https://www.taxtmi.com/caselaws?id=472558 Transfer-pricing analysis must be confined to actual international transactions with associated enterprises, rather than total turnover, and transaction values must be verified with the taxpayer given an opportunity to reconcile discrepancies. Delayed foreign-currency receivables are benchmarked after a 60-day credit period using six-month LIBOR plus 200 basis points unless circumstances justify departure. Prior-period travel and legal expenses require verification of liability crystallisation, prior allowance and exclusive business nexus. Revised computations correcting taxable income require merits consideration despite absence of a revised return, subject to verification of the provision's accounting and tax basis. en-us Tue, 13 May 2025 00:00:00 +0530 Thu, 15 Oct 2026 19:04:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472558 Transfer-pricing analysis must be confined to actual international transactions with associated enterprises, rather than total turnover, and transaction values must be verified with the taxpayer given an opportunity to reconcile discrepancies. Delayed foreign-currency receivables are benchmarked after a 60-day credit period using six-month LIBOR plus 200 basis points unless circumstances justify departure. Prior-period travel and legal expenses require verification of liability crystallisation, prior allowance and exclusive business nexus. Revised computations correcting taxable income require merits consideration despite absence of a revised return, subject to verification of the provision's accounting and tax basis. Case-Laws Income Tax Tue, 13 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472558