ITAT Upholds Determination of ALP on Reimbursement of Third Party Cost Incurred under CUP, Directs Deletion of Proposed Adjustment

By Yogitha S. Yogesh - On April 28, 2023 7:00 pm - 2 mins read
ITAT Upholds Determination of ALP - ITAT - ALP - Reimbursement of Third Party - Cost Incurred under CUP - Deletion of Proposed Adjustment - Proposed Adjustment - Determination of ALP on Reimbursement - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) upheld the determination of Arm’s Length Price (ALP) on reimbursement of third-party costs incurred under Comparable Uncontrolled Price (CUP) and directed the deletion of the proposed adjustment.     M/s. Transocean Drilling Services (I) Pvt. Ltd, the assessee company filed the returns electronically on 30/11/2012 declaring a…

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