Assessee's Transfer Pricing Report Rejected for Non-Compliance; Incorrect Profit Split Method Application and Lack of Benchmarking Noted.

Assessee's Transfer Pricing Report Rejected for Non-Compliance; Incorrect Profit Split Method Application and Lack of Benchmarking Noted. https://www.taxtmi.com/highlights?id=18224 TP - The transfer pricing report furnished by the assessee is not in accordance with rules prescribed in this regard - The PSM has not been correctly applied as per law - No bench marking has been done – thus, it cannot be approved - the most appropriate method in this type of function/transaction would be profit split method only - AT en-us Fri, 18 Apr 2014 16:52:03 +0530 Fri, 18 Apr 2014 16:52:03 +0530 TaxTMI RSS Generator Assessee's Transfer Pricing Report Rejected for Non-Compliance; Incorrect Profit Split Method Application and Lack of Benchmarking Noted. https://www.taxtmi.com/highlights?id=18224 TP - The transfer pricing report furnished by the assessee is not in accordance with rules prescribed in this regard - The PSM has not been correctly applied as per law - No bench marking has been done – thus, it cannot be approved - the most appropriate method in this type of function/transaction would be profit split method only - AT Highlights Income Tax Fri, 18 Apr 2014 16:52:03 +0530 https://www.taxtmi.com/highlights?id=18224