An intrinsic time-scale decomposition (ITD) based method for power transformer fault diagnosis is proposed. Dissolved gas analysis (DGA) parameters are ranked according to their skewness, and then ITD based features extraction is performed. An optimal set of PRC features are determined by an XGBoost classifier. For classification purpose, an XGBoost classifier is used to the optimal PRC features set. The proposed method's performance in classification is studied using publicly available DGA data of 376 power transformers and employing an XGBoost classifier. The Proposed method achieves more than 95% accuracy and high sensitivity and F1-score, better than conventional methods and some recent machine learning-based fault diagnosis approaches. Moreover, it gives better Cohen Kappa and F1-score as compared to the recently introduced EMD-based hierarchical technique for fault diagnosis in power transformers.