https://www.taxtmi.com/caselaws?id=176580 The Tribunal partly allowed the assessee's appeal, directing the Assessing Officer to re-evaluate Transfer Pricing adjustments by excluding certain comparables. The disallowance of foreign travel expenditure was deleted as the Tribunal found it necessary for the assessee's business. The issue of incorrect adjustment on account of refund not received was sent back to the AO for clarification. The levy of interest under Section 234D was upheld as mandatory, and penalty proceedings under Section 271(1)(c) were deemed premature. The order was pronounced on 6th November 2015. en-us Fri, 06 Nov 2015 00:00:00 +0530 Fri, 25 Dec 2015 09:31:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176580 The Tribunal partly allowed the assessee's appeal, directing the Assessing Officer to re-evaluate Transfer Pricing adjustments by excluding certain comparables. The disallowance of foreign travel expenditure was deleted as the Tribunal found it necessary for the assessee's business. The issue of incorrect adjustment on account of refund not received was sent back to the AO for clarification. The levy of interest under Section 234D was upheld as mandatory, and penalty proceedings under Section 271(1)(c) were deemed premature. The order was pronounced on 6th November 2015. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176580