Relying on the Supreme Court’s verdict in the Vodafone case related to transfer pricing adjustment (TPA), the Bombay High Court upheld the Income Tax Appellate Tribunal (ITAT) ruling that had struck down the adjustments made by the taxman on an Indian company for buying shares in a fully-owned Dubai-based subsidiary on its capital account.

Amit Agarwal, Partner shares his views on aforementioned story for Financial Express- Standalone story.
Citing Supreme Court’s Vodafone order, Bombay HC rejects transfer pricing adjustment - Amit Agarwal