Advance payment made to AE’s for Commercial Expediency of Pharmaceutical Business in Foreign Territory subject to ALP u/s 92 of Income Tax Act: ITAT [Read Order]

ITAT - ITAT Ahmedabad - Income Tax - Pharmaceutical Business - TAXSCAN

The Ahmedabad bench Income Tax Appellate Tribunal ( ITAT ) held that advance payment made to associate enterprises for commercial expediency of pharmaceutical business in foreign territory should be subject matter of Arm Length Price ( ALP ) under Section 92 of the Income Tax Act, 1961. The Assessee  Intas Pharmaceuticals Ltd.is having international transactions…

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