https://www.taxtmi.com/caselaws?id=307083 International transactions must be benchmarked under a prescribed transfer pricing method, and a free-standing benefit test cannot by itself justify an arm's length price at nil; the management fee issue was therefore sent back for fresh examination in accordance with law, including consideration of the assessee's own earlier ruling if final. Loose tools written off as inventories were accepted on identical facts in the assessee's prior year, so the disallowance for the relevant assessment years was deleted. en-us Thu, 05 May 2022 00:00:00 +0530 Thu, 16 Mar 2023 21:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307083 International transactions must be benchmarked under a prescribed transfer pricing method, and a free-standing benefit test cannot by itself justify an arm's length price at nil; the management fee issue was therefore sent back for fresh examination in accordance with law, including consideration of the assessee's own earlier ruling if final. Loose tools written off as inventories were accepted on identical facts in the assessee's prior year, so the disallowance for the relevant assessment years was deleted. Case-Laws Income Tax Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307083