Indian Tribunal Holds Book Profits Not Subject to Transfer Pricing Adjustments for Minimum Alternate Tax Purposes

The Mumbai Income Tax Appellate Tribunal recently issued a decision on whether book profits may be increased by a transfer pricing adjustment for Minimum Alternate Tax (MAT) purposes. The case involved an Indian subsidiary of Owen Corning U.S., which in the 2007-08 tax year was involved in related party transactions for which it chose the transactional net margin method to determine the arm's l…
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