https://www.taxtmi.com/caselaws?id=360810 In DRP proceedings, additional evidence relevant to transfer pricing objections must be considered where the statute and rules permit it, and late filing alone is not a valid ground for rejection; the raw-material issue was therefore remitted for fresh adjudication. For import of finished goods resold without value addition, the Resale Price Method was held to be the appropriate benchmark, and the adjustment was deleted subject to verification of margins. For export of reusable packing material, no transfer pricing adjustment was warranted on the facts, and the addition was deleted. The overall effect was relief to the assessee on the substantive transfer pricing disputes, with only the raw-material issue restored to the DRP. en-us Mon, 14 May 2018 00:00:00 +0530 Wed, 23 May 2018 07:45:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360810 In DRP proceedings, additional evidence relevant to transfer pricing objections must be considered where the statute and rules permit it, and late filing alone is not a valid ground for rejection; the raw-material issue was therefore remitted for fresh adjudication. For import of finished goods resold without value addition, the Resale Price Method was held to be the appropriate benchmark, and the adjustment was deleted subject to verification of margins. For export of reusable packing material, no transfer pricing adjustment was warranted on the facts, and the addition was deleted. The overall effect was relief to the assessee on the substantive transfer pricing disputes, with only the raw-material issue restored to the DRP. Case-Laws Income Tax Mon, 14 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360810