https://www.taxtmi.com/caselaws?id=244057 The Tribunal allowed the benefit of brought forward loss for computing book profits under Section 115JB, citing precedent and remitting the matter for verification. Disallowances for deduction under Section 80HHC, depreciation on vehicles pending registration, claim for loose tools, training expenses, royalty expenses, and reduction of depreciation rate on molds were deleted based on similarities to preceding years. The Tribunal upheld the disallowance of transfer pricing addition due to incorrect Profit Level Indicator and rejected adjustment for depreciation rates. Consultancy charges for a feasibility study were allowed as revenue expenditure, overturning the CIT(A)'s decision. The judgment highlighted consistency and adherence to prescribed methods in transfer pricing. en-us Tue, 11 Feb 2014 00:00:00 +0530 Tue, 24 Mar 2015 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244057 The Tribunal allowed the benefit of brought forward loss for computing book profits under Section 115JB, citing precedent and remitting the matter for verification. Disallowances for deduction under Section 80HHC, depreciation on vehicles pending registration, claim for loose tools, training expenses, royalty expenses, and reduction of depreciation rate on molds were deleted based on similarities to preceding years. The Tribunal upheld the disallowance of transfer pricing addition due to incorrect Profit Level Indicator and rejected adjustment for depreciation rates. Consultancy charges for a feasibility study were allowed as revenue expenditure, overturning the CIT(A)'s decision. The judgment highlighted consistency and adherence to prescribed methods in transfer pricing. Case-Laws Income Tax Tue, 11 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244057