Qualifying Activities under TTS is outside provisions of TP: ITAT deletes addition on account of allocation of Head Office Expenses [Read Order]

By Aparna. M - On October 6, 2023 10:00 am - 2 mins read
Qualifying - Activities - TTS - outside provisions - TP - ITAT - addition - allocation -Head Office Expenses - taxscan

The Income Tax Appellate Tribunal (ITAT) Mumbai bench while deleting additions made towards the allocation of head office expenses held that qualifying activities under Tonnage Tax Scheme (TTS) are outside provisions of Transfer Pricing (TP). Assessee,  Van Oord India Private Limited is a wholly owned subsidiary of Van Oord Dredging and Marine Contractors BV, a…

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