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Cit vs Birlasoft Ltd on 3 December, 2024 cites

Commnr.Of Income Tax-6,Mumbai vs M/S Glaxo Smithkline Pharmaceutical on 14 January, 2020

85. The contention that the Assessee may be able to manage its affairs so as to ensure that its new undertaking, which is covered under Section 10A of the Act, derives a higher profit. Therefore, it may be also apposite for making transfer pricing adjustment inter se domestic units to ensure that any transaction inter se separate units of an entity are accounted for at ALP. Mr. Aggarwal had also referred to the decision in the case of CIT v. Glaxo Smithkline Asia (P.) Ltd.6. However, it is not necessary for this Court to address the said issue. As noted above, certain specified domestic transactions are also required to be benchmarked to impute arm's length value. If in a given case, the transactions fall within the scope of a 'domestic specified transaction' Signature Not Verified Digitally Signed By:DUSHYANT RAWAL ITA No.1242/2011 Page 48 of 51 Signing Date:03.12.2024 20:10:53 under Section 92BA of the Act, the said exercise of determining the ALP would be required. However, if a particular transaction does not fall within the sweep of the statutory provisions, it is obvious that it will not be permissible to readjust the prices on account of a possible domestic transactions that may possibly distort the quantum of benefit available under Section 10A of the Act. The only question to be addressed is whether the decision of the learned CIT(A) and the learned ITAT to direct that the ALP be determined on the basis of TNMM by comparing the PLI at an enterprise level is erroneous or contrary to the guidelines for determining the ALP as prescribed under the Rules.
Supreme Court - Daily Orders Cites 0 - Cited by 7 - Full Document
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