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 working capital adjustment while computing ALP." The tribunal's decision, which is a significant victory for the company, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.