https://www.taxtmi.com/caselaws?id=267602 The High Court upheld the decision to disallow a significant portion of 'Export Promotion Expenses' claimed by the appellant-assessee, limiting the deduction to expenses related to a visit to Singapore. Regarding the applicability of comparables for Transfer Pricing determination, the Court found that the comparables submitted by the appellant were not examined on their merits for the subject assessment year. The Court directed the issue to be reconsidered by the Transfer Pricing Officer to prevent prejudice to the assessee, ruling in favor of the appellant-assessee on this issue. en-us Mon, 12 Oct 2015 00:00:00 +0530 Mon, 02 May 2016 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267602 The High Court upheld the decision to disallow a significant portion of 'Export Promotion Expenses' claimed by the appellant-assessee, limiting the deduction to expenses related to a visit to Singapore. Regarding the applicability of comparables for Transfer Pricing determination, the Court found that the comparables submitted by the appellant were not examined on their merits for the subject assessment year. The Court directed the issue to be reconsidered by the Transfer Pricing Officer to prevent prejudice to the assessee, ruling in favor of the appellant-assessee on this issue. Case-Laws Income Tax Mon, 12 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267602