DCIT CENT. CIR. 5(2), MUMBAI vs. IPCA LABORATORIES LTD., MUMBAI

In the result, appeal filed by the learned assessing officer is dismissed

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

transfer pricing adjustment the learned Assessing Officer made the following disallowances; Ipca Laboratories ltd; A.Y. 2005:06 to 2010–11 i. Deduction under Section 35(2AB) of the Act was reduced by ₹7,54,500/- on account of different in form no. 3CL. ii. The assessee has earned exempt income of ₹80,97,777/-, the learned Assessing Officer disallowed