The Mumbai ITAT recently ruled on selection of comparable and transfer pricing adjustment on account of non-recovery of charges for providing letter of comfort/support and royalty in case of.
The appellate body approved the company s royalty payment of ₹646 crore at 6% of local value addition and rejected the transfer pricing officer s estimate of ₹437 crore at 2.62% of net sales.
New Jersey Division of Taxation announced voluntary transfer pricing initiative from June 15 through March 2, 2023. Division says initiative targets toward companies with intercompany transactions that would be subject to transfer pricing adjustment.