https://www.taxtmi.com/highlights?id=78583 The Appellate Tribunal (ITAT) considered a case involving Transfer Pricing (TP) adjustments for both US and non-US transactions. The Tax Authorities computed TP adjustment on the total cost base, including domestic operations, despite resolution of US-related adjustments through Mutual Agreement Procedure. The question was whether domestic operations fall u/s Indian TP provisions. ITAT held that TP should be determined for international transactions u/s Chapter X of Income Tax Act, and domestic TP adjustments must comply with law. The matter was remanded to Assessing Officer/TPO for reassessment of domestic TP adjustments to ensure compliance with law. The appeal was allowed for statistical purposes. en-us Tue, 18 Jun 2024 10:30:53 +0530 Tue, 18 Jun 2024 10:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=78583 The Appellate Tribunal (ITAT) considered a case involving Transfer Pricing (TP) adjustments for both US and non-US transactions. The Tax Authorities computed TP adjustment on the total cost base, including domestic operations, despite resolution of US-related adjustments through Mutual Agreement Procedure. The question was whether domestic operations fall u/s Indian TP provisions. ITAT held that TP should be determined for international transactions u/s Chapter X of Income Tax Act, and domestic TP adjustments must comply with law. The matter was remanded to Assessing Officer/TPO for reassessment of domestic TP adjustments to ensure compliance with law. The appeal was allowed for statistical purposes. Highlights Income Tax Tue, 18 Jun 2024 10:30:53 +0530 https://www.taxtmi.com/highlights?id=78583