https://www.taxtmi.com/caselaws?id=259978 Transfer pricing for a genuine commission-based agency segment must be determined on the actual international transaction and not by recharacterising it as trading; the foreign associated enterprise's cost of goods and multi-year comparables could not be imported, and current-year data was required. The resulting adjustment was set aside for fresh arm's length determination. Disallowance under section 40(a)(i) was not sustainable where the non-resident sale proceeds were not chargeable to tax in India and no permanent establishment existed, and the DTAA non-discrimination clause independently barred the disallowance. Disallowance under section 14A was also impermissible because no exempt income was earned during the year. en-us Tue, 26 May 2015 00:00:00 +0530 Thu, 08 Jun 2017 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259978 Transfer pricing for a genuine commission-based agency segment must be determined on the actual international transaction and not by recharacterising it as trading; the foreign associated enterprise's cost of goods and multi-year comparables could not be imported, and current-year data was required. The resulting adjustment was set aside for fresh arm's length determination. Disallowance under section 40(a)(i) was not sustainable where the non-resident sale proceeds were not chargeable to tax in India and no permanent establishment existed, and the DTAA non-discrimination clause independently barred the disallowance. Disallowance under section 14A was also impermissible because no exempt income was earned during the year. Case-Laws Income Tax Tue, 26 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259978