ACIT vs EYGBS India Pvt. Ltd.

Authority: ITAT Tribunal/Court: Bangalore Date: 2020-08-31 AY: 2014-15 Section: 92C(4), 92, 10AA, 92CD(1), 2(24) Acts: Income Tax Act 1961 Result: Assessee Citation: 1220Taxpundit2240 Justices: N V VASUDEVAN VP & G MANJUNATHA AM Appeal No: ITA No.2984/Bang/2018
Whether voluntary transfer pricing adjustment made pursuant to an Advance Pricing Agreement (APA) qualifies for deduction under section 10AA of the Income Tax Act, 1961, and whether such adjustment is barred by the proviso to section 92C(4) --- Held: Yes, the voluntary adjustment qualifies for deduction under section 10AA and is not barred by the proviso to section 92C(4).

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