Clarity- this was the single point goal of the Rangachary Committee that was set up last year by the Prime Minister- clarity on how the transfer pricing principles should be applied to over 750 MNC Development Centres in India.
According to experts, revenue's aggression in the case of transfer pricing is due to a deteriorating macro environment i.e. slowing growth, declining tax revenues and a widening deficit - a classic case of the tail wagging the dog!