Transfer Pricing Adjustment Rejected; Port Fee and Interest Expense Disallowances Addressed; Rule 8D Inapplicable.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Transfer pricing adjustment on equity broking services (non-DVP segment/CH settlement) rejected due to negligible difference of 0.01% after considering cost adjustment for sales and marketing function. Port fee charges paid allowed at cost plus 25% markup as per agreement. No adjustment required for administrative support services provided to AE as margin exceeded arm's length price. Addition for brokerage on program trades disallowed as direct third-party transactions without benefitting AEs. Disallowance u/s 14A restricted to assessee's suo motu disallowance due to inapplicability of Rule 8D and availability of surplus interest-free funds. Transfer pricing adjustment on equity broking services (non-DVP/CH segment) remitted for recomputati.........