https://www.taxtmi.com/caselaws?id=460799 The ITAT Kolkata allowed the assessee's appeal regarding transfer pricing adjustment for captive power plant transactions. The tribunal applied its earlier decision in the assessee's case for AY 2016-17, finding the issues identical. The DRP had directed the AO to verify the status of revenue's appeal against the 2016-17 tribunal order. Since the revenue's appeal to the HC remained pending, the tribunal held its earlier favorable decision binding. The tribunal set aside the lower authority's order, upheld the assessee's benchmark analysis, and deleted the downward transfer pricing adjustment. en-us Mon, 10 Jul 2023 00:00:00 +0530 Fri, 21 Feb 2025 08:22:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460799 The ITAT Kolkata allowed the assessee's appeal regarding transfer pricing adjustment for captive power plant transactions. The tribunal applied its earlier decision in the assessee's case for AY 2016-17, finding the issues identical. The DRP had directed the AO to verify the status of revenue's appeal against the 2016-17 tribunal order. Since the revenue's appeal to the HC remained pending, the tribunal held its earlier favorable decision binding. The tribunal set aside the lower authority's order, upheld the assessee's benchmark analysis, and deleted the downward transfer pricing adjustment. Case-Laws Income Tax Mon, 10 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460799