Book Review: Domestic Transfer Pricing – Law, Practice and Procedure

There is a great advantage in reading books written by busy professionals. Firstly, these professionals know from practical experience exactly what problems to look out for and how serious those are. Secondly, these professionals don’t like beating around the bush. They give you the answer to the problem, straight and clear, without engaging in unnecessary theoretical discussion.

Yogesh Thar and Anjali Agarwal, the authors of “Domestic Transfer Pricing – Law, Practice and Procedure”, have a wealth of experience backing them. In their busy practice at Bansi. S. Mehta & Co they have handled matters of huge conglomerates and must have encountered virtually every conceivable problem. In addition, both have a flair for writing and giving lectures. They know how to focus on the topic and grab the readers’ interest.

The USP about the book is that there is a systematic arrangement of topics, identification of issues and clear-cut answers. The authors have dissected each section and explained each of its parts in a comprehensive manner.

The other utility of the book is that the authors have anticipated the problems that can arise on an interpretation of the relevant provision and provided answers to it. The answers are quite convincing because they are backed by judicial pronouncements.

Yet another aspect of the book is that the authors have not shied away from expressing their views on whether a particular judgement is right or not. For instance, on the controversial issue of when s. 40A(2) can be invoked, the authors have provided an illuminating discussion of the law and then concluded that the judgement of the Tribunal in Choice Sanitaryware 9 Taxmann.com 120 is wrong. There are several other instances where the authors have not hesitated to speak their mind on controversial topics.

An aspect that will aid your understanding of the law on the subject are the eight “case studies” that the authors have discussed in the book. Each case study deals with a practical issue that you will encounter sooner or later in your practice.

Another practical aid is the “practitioners’ check-list”. The authors have meticulously identified the numerous requirements that have to be fulfilled so that there is no last-minute anxiety at the stage of filing the transfer pricing report.

Yet another utility of the book is that it gives you an up-to-data list of all the judgements on transfer pricing. In fact, though the title of the book suggests that it deals with “domestic” transfer pricing, there is actually a wealth of information in it relating to “international” transfer pricing as well.

So, if you are engaged in any sort of transfer pricing practice, whether domestic or international, and you want quick access to authoritative interpretation and the latest case laws, this book will prove invaluable.