Indian Income Tax Tribunal rules TP provision inapplicable for divestment of shares, deletes TP adjustment

June 03, 2021 5 minute read

The Indian Income Tax Appellate Tribunal deleted a TP adjustment pertaining to the divestment of shares held by the assessee (Value Labs LLP) for Assessment Year 2015-16 (equivalent to Financial Year 2014-15). 




The assessee had challenged the TP adjustment with respect to the divestment of shares held in Value Labs India, Value Labs Sweden, VLIT Services BV, Netherlands and Value Labs UK Ltd, to Value Labs Global Solutions Pte. Ltd.