Case Law Analysis
|Income Tax Appellate Tribunal
Ad-hoc valuation breaches Section 92C, Rs 357.35 cr TP adjustment deleted | UCB India case : ITAT (Mumbai)
The ITAT held that the Transfer Pricing Officer’s ad-hoc valuation method violated Section 92C and set aside the Rs 357.35 crore adjustment. The ruling reinforces that only the prescribed five methods may be used, affecting taxpayers facing TP adjustments.