Dismissing the appeal the Tribunal held that adjustment of transfer pricing adjustment and disallowance of expenditure levy of penalty is held to be not justified. (AY.2010-11)
ACIT v. IKEA Trading (India) P. Ltd. (2021) 87 ITR 12 (SN) (Delhi) (Trib.)
S. 271(1)(c) : Penalty-Concealment-Arm’s length price-Adjustment of transfer pricing-Disallowance of expenditure-Penalty not leviable.