Sudit K Parekh's tax practice comprises eight partners and 108 other professionals. The tax department is run by Sudit Parekh, while Sudhir Nayak leads the international tax and transfer pricing practices.The firm has advised clients on direct and indirect ...
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Sudit K Parekh's tax practice comprises eight partners and 108 other professionals. The tax department is run by Sudit Parekh, while Sudhir Nayak leads the international tax and transfer pricing practices.
The firm has advised clients on direct and indirect tax matters, PE exposure of overseas clients undertaking contracts with Indian customers, structuring business models and devising the transfer pricing policy for overseas companies operating in India. The team has advised up to 150 clients on transfer pricing issues.
Nayak and Maulik Doshi advised a manufacturing and distribution client on an appeal about appropriate methods to determine the arm's-length price of the international transaction of purchasing raw materials. The transfer pricing officer rejected the client's cost plus method as the most appropriate, arguing that transaction net margin method was most appropriate.
Nayak and Doshi successfully contested before the Income Tax Appellate Tribunal that the cost plus method was in fact the most appropriate in determining the arm's-length price. The benefit to the client is worth $5 million over six years.
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