https://www.taxtmi.com/caselaws?id=770554 The ITAT Delhi allowed the assessee's appeal against transfer pricing adjustments made by the TPO. The TPO had rejected the assessee's TP study claiming segments were not audited, but the ITAT found this rejection was done summarily without proper justification. The tribunal noted that even accepting the TPO's profit level indicator calculation, the results fell within the +1% tolerance limit, negating any adjustment requirement. Following the Honeywell precedent, the ITAT held that filing audited segments is unnecessary when accounts are audited and figures remain undisturbed by the TPO, thereby deleting all adjustments. en-us Fri, 09 May 2025 00:00:00 +0530 Tue, 13 May 2025 09:17:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770554 The ITAT Delhi allowed the assessee's appeal against transfer pricing adjustments made by the TPO. The TPO had rejected the assessee's TP study claiming segments were not audited, but the ITAT found this rejection was done summarily without proper justification. The tribunal noted that even accepting the TPO's profit level indicator calculation, the results fell within the +1% tolerance limit, negating any adjustment requirement. Following the Honeywell precedent, the ITAT held that filing audited segments is unnecessary when accounts are audited and figures remain undisturbed by the TPO, thereby deleting all adjustments. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770554