https://www.taxtmi.com/caselaws?id=182547 Transfer pricing adjustment under Chapter X of the Income-tax Act, 1961 is confined to international transactions with associated enterprises on an arm's length price basis and cannot be extended to the assessee's dealings with independent third parties or entire turnover. The statutory scheme under Section 92 taxes only income arising from such covered international transactions, so any broader adjustment would exceed the legislative mandate and tax income outside Chapter X. The Bombay High Court followed earlier decisions on the same scheme and did not entertain the Revenue's challenge on this point. en-us Tue, 24 Nov 2015 00:00:00 +0530 Mon, 04 May 2026 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182547 Transfer pricing adjustment under Chapter X of the Income-tax Act, 1961 is confined to international transactions with associated enterprises on an arm's length price basis and cannot be extended to the assessee's dealings with independent third parties or entire turnover. The statutory scheme under Section 92 taxes only income arising from such covered international transactions, so any broader adjustment would exceed the legislative mandate and tax income outside Chapter X. The Bombay High Court followed earlier decisions on the same scheme and did not entertain the Revenue's challenge on this point. Case-Laws Income Tax Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182547