https://www.taxtmi.com/caselaws?id=267622 The Tribunal upheld the exclusion of telecommunication and traveling expenses from export turnover under Section 10A of the Income Tax Act, following a High Court decision. It also affirmed that losses of non-STPI units cannot be set off against profits of STPI units for Section 10A deduction. The Tribunal directed a reevaluation of comparable companies for Transfer Pricing analysis, excluding companies based on functional dissimilarities. Additionally, it instructed verification of TDS and foreign tax credit claims in line with CBDT instructions. The Tribunal dismissed the Revenue's appeal and partially allowed the assessee's appeal, providing detailed guidance for recalculating ALP and verifying tax credits. en-us Wed, 30 Sep 2015 00:00:00 +0530 Mon, 09 Nov 2015 21:44:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267622 The Tribunal upheld the exclusion of telecommunication and traveling expenses from export turnover under Section 10A of the Income Tax Act, following a High Court decision. It also affirmed that losses of non-STPI units cannot be set off against profits of STPI units for Section 10A deduction. The Tribunal directed a reevaluation of comparable companies for Transfer Pricing analysis, excluding companies based on functional dissimilarities. Additionally, it instructed verification of TDS and foreign tax credit claims in line with CBDT instructions. The Tribunal dismissed the Revenue's appeal and partially allowed the assessee's appeal, providing detailed guidance for recalculating ALP and verifying tax credits. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267622