https://www.taxtmi.com/caselaws?id=267207 The Tribunal ruled in favor of the assessee, an Indian company, in the assessment year 2006-07. It allowed the appeal, deleting significant disallowances and adjustments made by the Transfer Pricing Officer (TPO) and upheld by the Dispute Resolution Panel (DRP). The disallowance of 50% out of the purchase value paid for machinery from the associated enterprise was overturned due to lack of proper valuation basis. The disallowance of amounts paid towards cost-sharing arrangement and IT support was also reversed as the TPO failed to determine the arm's length price correctly. Additionally, the disallowance of depreciation on goodwill and the enhancement of the value of closing stock of raw material were both deleted in favor of the assessee. en-us Wed, 30 Sep 2015 00:00:00 +0530 Sat, 31 Oct 2015 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267207 The Tribunal ruled in favor of the assessee, an Indian company, in the assessment year 2006-07. It allowed the appeal, deleting significant disallowances and adjustments made by the Transfer Pricing Officer (TPO) and upheld by the Dispute Resolution Panel (DRP). The disallowance of 50% out of the purchase value paid for machinery from the associated enterprise was overturned due to lack of proper valuation basis. The disallowance of amounts paid towards cost-sharing arrangement and IT support was also reversed as the TPO failed to determine the arm's length price correctly. Additionally, the disallowance of depreciation on goodwill and the enhancement of the value of closing stock of raw material were both deleted in favor of the assessee. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267207