Company A (Mumbai) & Company B (Chennai) both are sister concern.
Management decided to shut Company B( Chennai) & transfer all the assets (IT , Office Equipment etc) to Company A (Mumbai) @ book values.
I would like to have your opinion on whether you see any challenge under the Domestic Transfer Pricing Rules as both Chennai and Mumbai are sister concerns and whether any element of profit should be built in over and above the Book Value (Proce agreed to transfer the asset).
It seems Ok from myside.
CAclubindia
