Allowability of expenditure u/s 40A(2) for the transfer pricing made in respect of specified domestic transaction not sustainable: ITAT directs Re-Adjudication [Read Order]

Allowability of expenditure - transfer pricing - respect - specified domestic transaction - sustainable-ITAT - Re-Adjudication-RAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that provisions of Section 40A (2) of the IT act governs the allowability of expenditure, thus the assessment of AO unsustainable. The assessee made the appeal on the grounds that: – 1.Disallowance / transfer pricing adjustment of purchase of guar gum (split) amounting to…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader