https://www.taxtmi.com/caselaws?id=439637 The Tribunal allowed the appeal of the assessee, a resident corporate entity engaged in trading agricultural commodities, challenging the adjustment proposed by the Transfer Pricing Officer to the Arm's Length Price of international transactions related to merchanting trades. The Tribunal held that the assessee's functions were similar to business auxiliary service providers and directed the Assessing Officer to compute the Arm's Length Price using Operating Profit (OP) to Value Added Cost (VAC) as the Profit Level Indicator, excluding the cost of goods. en-us Tue, 13 Jun 2023 00:00:00 +0530 Thu, 29 Jun 2023 08:29:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439637 The Tribunal allowed the appeal of the assessee, a resident corporate entity engaged in trading agricultural commodities, challenging the adjustment proposed by the Transfer Pricing Officer to the Arm's Length Price of international transactions related to merchanting trades. The Tribunal held that the assessee's functions were similar to business auxiliary service providers and directed the Assessing Officer to compute the Arm's Length Price using Operating Profit (OP) to Value Added Cost (VAC) as the Profit Level Indicator, excluding the cost of goods. Case-Laws Income Tax Tue, 13 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439637