MORE TRANSFER PRICING CASES TO BE AUDITED

The revenue department plans to increase the number of cases picked up for transfer pricing audit to keep pace with the increase in the volume of business transaction. The Government has last year audited 1,500 companies. The adjustments have been made in 350 out of 1,500 cases taken up for audit last year during 2004-05. The Government intend to increase that number since the department has been able to realize more revenue from the audit exercise.