{"id":6020,"date":"2019-06-28T13:16:35","date_gmt":"2019-06-28T13:16:35","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-j-p-morgan-services-india-p-ltd-2019-263-taxman-141-bom-hc\/"},"modified":"2019-11-30T07:54:26","modified_gmt":"2019-11-30T07:54:26","slug":"pcit-v-j-p-morgan-services-india-p-ltd-2019-263-taxman-141-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-j-p-morgan-services-india-p-ltd-2019-263-taxman-141-bom-hc\/","title":{"rendered":"PCIT v. J.P. Morgan Services India (P) Ltd. (2019) 263 Taxman 141\/ 182 DTR 373 \/ 311 CTR 15( Bom) (HC) ."},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that, the Asseessee had 96% international transactions with US based AEs and rest were with non \u2013US based AEs. There was no distinction between US and non\u2013US\u00a0 based transactions. US Govt.\u00a0 entered in to Mutually\u00a0 Agreed Procedure for determining tax in two countries. CBDT, in later years agreed that such transfer pricing in relation to US based transactions could safely be adopted for purpose of assessee\u2019s non \u2013US based transactions to which the aseessee agreed under Advance Pricing Agreement. Tribunal held that for determining ALP of non\u2013US transactions said\u00a0 MAP between\u00a0 India and US could be applied. \u00a0High Court up held the order of the Tribunal. (AY. 2007 -08)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing\u2013Arm\u2019s length price-Mutually agreed procedure (MAP) adopted by Governments of India and USA in relation  to US based transactions for determination of ALP could also be adopted for determining ALP of on \u2013US based transactions.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6020","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1z6","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=6020"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6020\/revisions"}],"predecessor-version":[{"id":8396,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6020\/revisions\/8396"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}