https://www.taxtmi.com/highlights?id=76343 TP Adjustment - Addition of international transaction related to the demerger - The High court identified a jurisdictional overreach by the AO, who made an adjustment beyond the scope of the TPO's determination. It was noted that the TPO's order did not explicitly dictate the inclusion of the demerged business's value in the ALP calculation, rendering the AO's addition legally unsustainable. The judgement emphasized the sanctity of procedural adherence and the delineated roles of the AO and TPO in the context of transfer pricing adjustments. - The Court set aside the impugned order and remanded the matter back to the AO. en-us Thu, 04 Apr 2024 08:21:13 +0530 Thu, 04 Apr 2024 08:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76343 TP Adjustment - Addition of international transaction related to the demerger - The High court identified a jurisdictional overreach by the AO, who made an adjustment beyond the scope of the TPO's determination. It was noted that the TPO's order did not explicitly dictate the inclusion of the demerged business's value in the ALP calculation, rendering the AO's addition legally unsustainable. The judgement emphasized the sanctity of procedural adherence and the delineated roles of the AO and TPO in the context of transfer pricing adjustments. - The Court set aside the impugned order and remanded the matter back to the AO. Highlights Income Tax Thu, 04 Apr 2024 08:21:13 +0530 https://www.taxtmi.com/highlights?id=76343