Failure to consider Benefit of working capital adjustment while computing ALP: ITAT Directs re adjudication against Schneider Electric India Pvt ltd

The ITAT has directed a "re-adjudication" against "Schneider Electric India Pvt Ltd," citing a "failure to consider the benefit of a working capital adjustment while computing ALP." The tribunal's decision provides a significant victory for the company. The ruling clarifies that a tax authority cannot add a profit to a company's account without a valid reason. The court's decision is a crucial reminder to all that they must be diligent in their dealings.