https://www.taxtmi.com/article/detailed?id=11235 Applicability of transfer pricing provisions to purchase of depreciable capital assets depends on whether the transaction gives rise to income chargeable under the substantive heads of the Income Tax Act; Chapter X is a machinery provision and cannot be applied independent of a charging section. Determination of the ALP for such a purchase is triggered only when the transaction affects a chargeable head through depreciation. TNM method is unsuitable for capital goods purchases that do not enter the profit and loss account except via depreciation, and parties must maintain information under Section 92D. en-us Thu, 23 Mar 2023 12:45:38 +0530 Thu, 23 Mar 2023 12:45:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11235 Applicability of transfer pricing provisions to purchase of depreciable capital assets depends on whether the transaction gives rise to income chargeable under the substantive heads of the Income Tax Act; Chapter X is a machinery provision and cannot be applied independent of a charging section. Determination of the ALP for such a purchase is triggered only when the transaction affects a chargeable head through depreciation. TNM method is unsuitable for capital goods purchases that do not enter the profit and loss account except via depreciation, and parties must maintain information under Section 92D. Articles Income Tax Thu, 23 Mar 2023 12:45:38 +0530 https://www.taxtmi.com/article/detailed?id=11235