https://www.taxtmi.com/caselaws?id=422243 The Tribunal allowed the appeal in ITA No.7417/Mum/2018 concerning transfer pricing adjustments on international transactions. It directed the Transfer Pricing Officer to consider the revised closing stock value of a comparable company, ADS Diagnostics Ltd., leading to the elimination of transfer pricing adjustments on traded goods. The Tribunal rejected several comparable companies selected by the assessee, aligning the gross profit margin with the correct figure of ADS Diagnostics Ltd. The challenge against penalty proceedings under section 271(1)(c) was dismissed as premature, and the appeal was partly allowed, addressing the issues effectively. en-us Wed, 20 Apr 2022 00:00:00 +0530 Mon, 09 May 2022 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422243 The Tribunal allowed the appeal in ITA No.7417/Mum/2018 concerning transfer pricing adjustments on international transactions. It directed the Transfer Pricing Officer to consider the revised closing stock value of a comparable company, ADS Diagnostics Ltd., leading to the elimination of transfer pricing adjustments on traded goods. The Tribunal rejected several comparable companies selected by the assessee, aligning the gross profit margin with the correct figure of ADS Diagnostics Ltd. The challenge against penalty proceedings under section 271(1)(c) was dismissed as premature, and the appeal was partly allowed, addressing the issues effectively. Case-Laws Income Tax Wed, 20 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422243