https://www.taxtmi.com/caselaws?id=255101 The Revenue's appeal in a transfer pricing case involving adjustments to an Indian company's international transactions for ITES services was dismissed. The Transfer Pricing Officer's adjustments were upheld, resulting in a significant increase in the assessed income. The Dispute Resolution Panel rejected certain comparables and adjustments made by the TPO, leading to a remand for further verifications. Operating margin adjustments and foreign exchange gain/loss treatment were also addressed, with directions for verification of working capital adjustments. The cross objection by the assessee was deemed unnecessary after the dismissal of the Revenue's appeal. en-us Fri, 10 Oct 2014 00:00:00 +0530 Wed, 07 Jan 2015 19:46:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255101 The Revenue's appeal in a transfer pricing case involving adjustments to an Indian company's international transactions for ITES services was dismissed. The Transfer Pricing Officer's adjustments were upheld, resulting in a significant increase in the assessed income. The Dispute Resolution Panel rejected certain comparables and adjustments made by the TPO, leading to a remand for further verifications. Operating margin adjustments and foreign exchange gain/loss treatment were also addressed, with directions for verification of working capital adjustments. The cross objection by the assessee was deemed unnecessary after the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 10 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255101