https://www.taxtmi.com/caselaws?id=286735 The High Court of Bombay upheld the Income Tax Appellate Tribunal's order for the Assessment Year 2009-10, confirming the Assessing Officer's adjustment under section 92 of the Income Tax Act regarding loans and advances to Associated Enterprises. The court emphasized the need to determine the Arms Length Price (ALP) for such transactions to prevent profit shifting and ensure taxation of real income. The appeal challenging the Tribunal's decision was dismissed, with the court highlighting the legislative intent behind transfer pricing regulations as an anti-avoidance measure to protect the tax base. en-us Mon, 05 Mar 2018 00:00:00 +0530 Fri, 13 Mar 2020 10:14:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286735 The High Court of Bombay upheld the Income Tax Appellate Tribunal's order for the Assessment Year 2009-10, confirming the Assessing Officer's adjustment under section 92 of the Income Tax Act regarding loans and advances to Associated Enterprises. The court emphasized the need to determine the Arms Length Price (ALP) for such transactions to prevent profit shifting and ensure taxation of real income. The appeal challenging the Tribunal's decision was dismissed, with the court highlighting the legislative intent behind transfer pricing regulations as an anti-avoidance measure to protect the tax base. Case-Laws Income Tax Mon, 05 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286735