https://www.taxtmi.com/caselaws?id=237132 The Tribunal partly allowed the appeal, ruling in favor of the assessee on the applicability of transfer pricing provisions to resident entities and making partial disallowances for subcontract payments and travel expenses. The Tribunal directed the Assessing Officer to compute interest under sections 234B and 234D as per the revised order. Adjustments under Chapter X were deemed invalid as the transactions were not classified as 'international transactions'. The Tribunal also excluded extreme profit margin rate comparables and recalculated the Arm's Length Price, resulting in a lower profit margin within the tolerance limit. en-us Thu, 22 Aug 2013 00:00:00 +0530 Mon, 30 Mar 2015 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237132 The Tribunal partly allowed the appeal, ruling in favor of the assessee on the applicability of transfer pricing provisions to resident entities and making partial disallowances for subcontract payments and travel expenses. The Tribunal directed the Assessing Officer to compute interest under sections 234B and 234D as per the revised order. Adjustments under Chapter X were deemed invalid as the transactions were not classified as 'international transactions'. The Tribunal also excluded extreme profit margin rate comparables and recalculated the Arm's Length Price, resulting in a lower profit margin within the tolerance limit. Case-Laws Income Tax Thu, 22 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237132