https://www.taxtmi.com/caselaws?id=302457 The ITAT allowed the appellant's appeals, finding that the transfer pricing adjustment made by the AO was not justified. The ITAT concluded that the appellant had provided adequate evidence supporting services received from its associated enterprise and that the Transactional Net Margin Method (TNMM) was the appropriate method for determining the arm's length price. As a result, the addition to the appellant's income was deleted, and the penalty proceedings under section 271(1)(c) were contested successfully. en-us Thu, 28 Jun 2018 00:00:00 +0530 Sat, 28 May 2022 09:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302457 The ITAT allowed the appellant's appeals, finding that the transfer pricing adjustment made by the AO was not justified. The ITAT concluded that the appellant had provided adequate evidence supporting services received from its associated enterprise and that the Transactional Net Margin Method (TNMM) was the appropriate method for determining the arm's length price. As a result, the addition to the appellant's income was deleted, and the penalty proceedings under section 271(1)(c) were contested successfully. Case-Laws Income Tax Thu, 28 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302457