ITAT directs to recompute ALP of international transactions carried out by ICICI Bank pertaining to adjustment towards back office support services [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has instructed AO to recalculate the Arm Length Price (ALP) of international transactions that the ICICI Bank completed in relation to adjustments for back office support services.
By Aparna. M - On December 27, 2023 10:44 am - 2 mins read
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, directed the re-computation of the Arm Length Price (ALP) for international transactions conducted by ICICI Bank related to adjustments for back-office support services. ICICI Bank Ltd, engaged in banking and related activities, had its case selected for scrutiny after filing the Income Tax Return. The Assessing Officer…
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