Practice area

World TP Reviews

Transfer pricing
Advaita Legal

Kamal Sawhney and Prashant Meharchandani are two key professionals at Advaita Legal regarding its transfer pricing practice. The team focuses mainly on transfer pricing disputes services.  

In 2018, the team helped a few clients deal with transfer pricing dispute issues. One example saw the team representing a client before the Delhi High Court in two admitted revenue appeals on the same issue. In this matter, it also helped the client in the revenue appeal before the Supreme Court. 

In 2018, partner Sujit Ghosh, who once led transfer pricing practice, left the firm.

Ashok Maheshwary & Associates

The key practitioners at Ashok Maheshwary & Associates are Amit Maheshwari and Shilpa Bhatia. Its services include transfer pricing documentation, litigation, APAs, cross-border tax advice and transaction structuring. It is a member of the Leading Edge Alliance and TPA Global in order to offer a better and comprehensive service.  

The team assisted Dulari Exports with both transaction and transfer pricing issues to maximise its tax efficiency. It advised the client on several issues and designed a structure, including the structuring of holding of overseas entities for efficient and tax-free repatriation. 

Richa Jain, Minakshi Arora, Anurag Taneja, Anupam Krishna and Ashok Dahiya joined the firm. At the same time, manager Ashiish Gupta and Rakesh Jain left the firm. Surabhi Chandra moved to BMR Legal. 

AZB & Partners

Senior partners Deepak Chopra and Sunil Agarwal at AZB & Partners are two key leaders at the firm. It mainly focuses on transfer pricing disputes and advisory practice. The team works closely with other teams such as corporate law and litigation to provide comprehensive advice to the transfer pricing practice. 

The team represented clients in several transfer pricing disputes issues in 2018. In addition, the team also helped GSK by providing transfer pricing advice on all aspects relating to the transactions.  

BMR Legal

Mukesh Butani leads transfer pricing practice at BMR Legal. He provides transfer pricing advice for both Fortune 500 multinationals and large Indian business houses. The team helps clients on dispute resolution in double tax treaties, APAs and in representations before the advance ruling and APA authorities. In addition, it also assists both domestic and international research organisations on treaty law and transfer pricing policy. 

In the last year, the firm represented several clients in relation to transfer pricing dispute issues in tribunals, the High Court and the Supreme Court.  


The team at Deloitte provides a wide range of transfer pricing practices such as compliance and documentation, MAPs and APAs, planning and implementation. It has strengthened its practitioners through industry schools, business simulations and a community of practice activities. It also has a tight relationship with the commerce, country and industry chambers. Besides, it is also active in various events, covering GST, BEPS, transfer pricing amendments and industry-specific sessions. 

It helped a client by preparing three-tiered documentation including a maters file, CbCR and local files for more than 45 jurisdictions. It also assisted a leading Japanese air conditioning company with unilateral APA issues.  

In 2018, the firm promoted more than 400 tax professionals and six directors assumed the role of partners. The firm has also expanded by hiring four senior professionals from other firms. 

Dhruva Advisors

Rahul Mitra leads transfer pricing practice at Dhruva Advisors. He has more than 27 years of experience in handling taxation and regulatory issues in India. He focuses on inbound and outbound planning assignments, supply chain management and profit attribution to permanent establishment. Another key professional is partner Aditya Hans. The team has a strong capability in transfer pricing advice and litigation. It provides services to its clients including transfer pricing policy design, APAs and the best approach to restructuring businesses in relation to the transfer pricing policies in India. 

Principals Vinay Desai and Saptarishi Basu left the firm in 2018.  

DMD Advocates

The key professionals at DMD Advocates are Anuradha Dutt, Fereshte Sethna, Tushar Jarwal and Sachit Jolly. The team specialises in transfer pricing litigation and disputes matters. 

The firm dealt with several transfer pricing litigation and disputes issues in the last year. One example saw it successfully representing Samsung Electronics before the Tax Tribunal and Supreme Court in international tax and transfer pricing disputes. 

Economic Laws Practice

Rohit Jain and Nishant Shah lead the transfer pricing practice at firm. The professionals have diverse backgrounds, that include legal, financial and market analysis, chartered accountants and economists. It provides a comprehensive analysis and transfer pricing planning strategy. It also includes transfer pricing study and documentation, litigation ad supply chain advisory. In addition, it provides advice on trade and customs, including valuation to be adapted under customs. 

The team is helping a client on tax issues that combine indirect tax and transfer pricing. It advised the client in developing a strategy for the valuation of related party imports from a customs duty and transfer pricing point of view. 

Partner Anay Banhatti left the firm in 2019 and partner Ranjeet Mahtani moved to Dhruva Advisors in 2018. 


Vijay Iyer leads transfer pricing practice at EY. The team’s practice includes transfer pricing documentation and litigation advisory. It assists clients across industries, governments and industry associations on various regulatory and tax policy issues. In addition, it takes advantage of technology to deal with transfer pricing issues. 

In 2018, the team successfully defended a challenge to an intra-group services arrangement in transfer pricing litigation. 

Grant Thornton India

The team at Grant Thornton is comprised of approximately 80 practitioners. Munjal Almoula and Fatema Huned are two key practitioners at firm. It provides services including APAs, transfer pricing documentation, planning and policy making. It has structured itself into three business units, involving technology, industrial and consumer. 

It handled lots of transfer pricing planning and advisory matters in 2018. One example saw the team helping a client by designing of efficient holding structure and operating business model. In addition, it assisted a client in dealing with master file and CbCR requirements. 

Arun Chhabra is in the process of leaving the firm. 

JMP Advisors

Rajesh Athavale is the key transfer pricing professional at JMP Advisors. He has more than 20 years of experience in the transfer pricing practice. He also helps clients in income tax matters including transfer pricing, and appears in appellate proceedings at tribunals. The team provides services including transfer pricing documentation and MAPs. 

In 2019, the team helped a leading global automobile firm on an application under the MAPs area. 

Kevin Sanghvi joined the firm as an assistant manager and assistant manager Payal shah moved to Dubai in 2018.  

Khaitan & Co

Sanjay Sanghvi leads transfer pricing practice at Khaitan & Co. Its practice covers transfer pricing documentation, APAs and disputes. The team offers representation before the Dispute Resolution Panel and Income Tax Appellate Tribunal and assistance in representation before the High Court and Supreme Court of India. In recent years, the team has had a growing client base regarding transfer pricing issues at the transaction planning stage. It also advised multinational groups on transfer pricing issues, and assists with strategy and representation before the tax authorities.  

Recently, the team successfully represented clients in transfer pricing disputes on various industry issues such as marketing intangibles. 

Ayush Mehrotra joined the firm as a partner. Partner Nihal Kothari and executive director Daksha Baxi left the firm in 2018. 

Majmudar & Partners

The team at Majmudar & Partners has established the New York office as to serve its US clients.  Akil Hirani leads the transfer pricing practice at firm. Other key practitioners include Ravi Raghavan and Rukshad Davar. It provides advice in relation to transfer pricing disputes, APAs and compliance. 

Nangia Andersen

Rakesh Nangia, Suraj Nangia, Nitin Narang and Amit Agarwal are key practitioners at Nangia Advisors. The team provides practices such as transfer pricing documentation, litigation support, APA and MAP. It recently opened three new offices in Gurugram, Bangalore and Punes. In addition, it also has announced a strategic collaboration agreement with Andersen Global.  

The team was active in transfer pricing litigation and advisory services this year. One case saw the team helping a client regarding the filing of a detailed master file. 

Adarsh Rathi and Meenu Wadhawan from EY joined the firm, as a director and associate director respectively, in recent years. 

Shah VG & Co

Director Gaurav Shah leads transfer pricing practice at Shah VG & Co. The team is also supported by Vandana Shah and three other practitioners. Its practice covers transfer pricing documentation, APAs, representation and advisory. It provides services in technology, shipping and logistics, renewable energy, pharma and manufacturing sectors. 

The team helped a client on an APA-related services regarding intra-group cross charges and brand royalty. In addition, it assisted a client in documenting the justification in relation to the arm’s-length pricing of its international transactions. 

Client feedback 

“Very knowledgeable team. They have the ability to cite the impact of not just of the transfer pricing aspects, but also practical difficulties and exchange control laws.” 

“Great in-depth knowledge of the subject. Good practical ideas about how to represent the client in front of officers for assessment. Good advice about how to maintain books, etc., in the future.” 

“The work is good and a study report was prepared in detail with extensive supporting data. The company analysis strategy is good.” 

SKP Business Consulting

Maulik Doshi leads the transfer pricing practice at the SKP Group. Its practice covers such things as transfer pricing documentation, APAs, litigation and planning. The firm recently acquired MNA& Co in order to expand its business in North India. In addition, it opened a new office in Chicago to serve US clients. 

In the last year, the team helped a client for its India-specific manufacturing and distribution operations from a transfer pricing, tax and regulatory point of view. 

Lokesh Gupta joined the firm as a senior manager and Rushabh Vora joined as a manager. Manager Ketan Soneji left the firm in 2018. 


Himanshu Sinha is the head of the transfer pricing department at Trilegal. The team is also supported by Bhuwn Dhoopar. Its practice includes transfer pricing documentation, disputes and litigation. Regarding its disputes service, it advises at various levels of appeal, especially in the tax tribunal and the High Court. Apart from that, the firm also provides advice on the impact of IP migration and business restructuring on extant transfer pricing arrangements of entities. 

The team successfully represented a client in a tax dispute before the Income Tax Appellate Tribunal. It involved several transfer pricing issues involving the benchmarking of transactions, including a dispute on the choice of comparables.