Delhi ITAT Grants Major Relief to SRF Limited in Transfer Pricing

The Delhi Bench of the Income Tax Appellate Tribunal granted substantial relief to SRF Limited in a wide-ranging dispute involving transfer pricing adjustments, captive power benchmarking, software cost allocations, Section 80-IA deduction, Section 14A disallowance, and MAT computation issues. 

The Tribunal repeatedly relied upon earlier orders in the assessee’s own case as well as recent judicial precedents including the Supreme Court ruling in Jindal Steel & Power Ltd. and the Delhi High Court decision in DCM Shriram Ltd. Several additions were deleted outright, while certain issues were remanded for fresh verification.