Appellant: Nila Mehta, Ghaziabad
Respondent: ACIT, Circle-54(1), New Delhi
The case ITA 1357/DEL/2019 pertains to a dispute for the assessment year 2013-14, where Nila Mehta appealed against the decisions made by the income tax authorities.
The proceedings took place before Shri Kuldip Singh, Judicial Member, and Shri Prashant Maharishi, Accountant Member, at the Delhi Bench ‘I-2’ of the Income Tax Appellate Tribunal.
The tribunal’s decision, detailed in the final order, addressed various issues concerning the application of transfer pricing laws and the correct methods for determining the arm’s length price of international transactions. Key aspects of the ruling include debates over the most appropriate method for benchmarking transfer prices and the taxpayer’s obligations to provide necessary documentation.
This case sheds light on the rigorous scrutiny by tax tribunals concerning transfer pricing adjustments and the expectations from taxpayers in terms of documentation and compliance with statutory frameworks. The decision serves as a crucial reference for similar cases involving transfer pricing disputes and the interpretation of tax laws.
Tax Dispute Resolution in ITA 1357/DEL/2019: Nila Mehta vs. ACIT, Circle-54(1), New Delhi
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