Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
The ITAT directed deletion of transfer pricing adjustments relating to AMP expenditure and Asian regional headquarter allocations, held warranty reimbursements were pass-through with no markup, and upheld no merit in adjustments for design and development charges. Royalty adjustments were fixed per prior years (resulting in an Rs. 18,70,787 adjustment for 2001-12); royalties in specified assessment years were held at arm's length or restored to the AO for determination in light of a CA certificate. Expatriate salaries were allowed as business expenditure u/s 37(1). Section 80JJAA relief was allowed with retrospective effect as clarificatory. Refund claim for excess DDT was dismissed. Disallowances under s.40(a)(ia), repairs and maintenance, and penalty u/s 271(1)(c) were deleted.
The ITAT directed deletion of transfer pricing adjustments relating to AMP expenditure and Asian regional headquarter allocations, held warranty reimbursements were pass-through with no markup, and upheld no merit in adjustments for design and development charges. Royalty adjustments were fixed per prior years (resulting in an Rs. 18,70,787 adjustment for 2001-12); royalties in specified assessment years were held at arm's length or restored to the AO for determination in light of a CA certificate. Expatriate salaries were allowed as business expenditure u/s 37(1). Section 80JJAA relief was allowed with retrospective effect as clarificatory. Refund claim for excess DDT was dismissed. Disallowances under s.40(a)(ia), repairs and maintenance, and penalty u/s 271(1)(c) were deleted.
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