AstraZeneca Pharma India has received an order from the Income Tax Appellate Tribunal issued under section 254 of the Income Tax Act, 1961 for the assessment years 2017-18 and 2018-19.
The order has been passed pursuant to the appeal filed by the Company against the final assessment order passed by the Tax Officer for the captioned years.
The order has been pronounced on three grounds, two being the corporate tax ground and one being the transfer pricing ground.
On the corporate tax grounds, complete relief has been provided by the ITAT.
On the transfer pricing ground, the ITAT has remitted the matter back to the Assessing Officer to review and pass the order in line with the directions given by the ITAT.
The appeal was filed before ITAT against which the ITAT has passed the captioned order.
The Company is going to take up the matter with the assessing Officer to pass the order in line with the directions provided by the ITAT.
