https://www.taxtmi.com/caselaws?id=357924 The Tribunal allowed the assessee's appeal in the transfer pricing adjustment case, emphasizing that the +/-5% range applies to the arm's length price, not profitability. The Assessing Officer was directed to verify the computation, and if correct, no addition should be made. In the treatment of unutilized MODVAT credit in closing stock, the Tribunal upheld the direction to increase the opening stock value by the amount added to the closing stock in the previous year. The Revenue's appeal was dismissed, and the decision aligned with statutory provisions and legal interpretations. en-us Wed, 21 Feb 2018 00:00:00 +0530 Mon, 02 Apr 2018 08:52:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357924 The Tribunal allowed the assessee's appeal in the transfer pricing adjustment case, emphasizing that the +/-5% range applies to the arm's length price, not profitability. The Assessing Officer was directed to verify the computation, and if correct, no addition should be made. In the treatment of unutilized MODVAT credit in closing stock, the Tribunal upheld the direction to increase the opening stock value by the amount added to the closing stock in the previous year. The Revenue's appeal was dismissed, and the decision aligned with statutory provisions and legal interpretations. Case-Laws Income Tax Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357924