TPO can rely on “contemporaneous” data even if not available at specified date

Kodiak Networks (India) Pvt Ltd vs. ACIT (ITAT Bangalore)

In a transfer pricing appeal, the Tribunal had to consider two issues: (a) what is the data to be considered by the TPO at the time of determining ALP? & (b) whether the assessee should be given an opportunity to refute the material sought to be utilized by the TPO? HELD by the Tribunal: