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of ITAT directed exclusion of two specified comparables from the TP benchmarking set for software development services, resulting in the taxpayer's margin of 11.88% falling within the ±3% range and negating the adjustment. The Tribunal deleted the TP adjustment for intra-group advertisement, marketing and promotion expenses, holding them not to be an international transaction. The Tribunal directed exclusion of a particular comparable in relation to contract R&D services. Disallowance of interest paid to an MSME and deemed income under s.41(1) was restored to the file of the AO for fresh adjudication after affording opportunity of hearing. Disallowance of finance-lease rentals was rejected consistent with prior bench rulings (owner: depreciation; user: rent). Issues under ss.234A/234B and short TDS/TCS credit were remitted to the AO for fresh decision.
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