Transfer Pricing Adjustment Deleted After Assessee Proves Equipment Purchase Authenticity Through Laboratory Bills and Documentation

TPO's adjustment on equipment purchases from associated enterprise was deleted. Tribunal found assessee had produced all relevant bills for laboratory equipment purchases before DRP and TPO, establishing transaction authenticity. Since documentary evidence conclusively proved actual equipment purchases occurred, no grounds existed for transfer pricing adjustment. TPO's basis for adjustment was invalidated as bills clearly demonstrated genuine equipment procurement transactions with AE. ITAT ruled adjustment was unwarranted when supporting purchase documentation had been furnished, thereby nullifying the entire TP addition made by TPO. .....

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