https://www.taxtmi.com/caselaws?id=272131 The Tribunal consolidated identical appeals and ruled in favor of the assessee, directing the deletion of various disallowances and additions. It emphasized the proper application of the Profits Split Method (PSM) on non-AE transactions, preventing double taxation and disallowance. The Tribunal also corrected the taxation rate on service fee income and interest expenses, granting relief on the denial of set-off of brought forward losses. Additionally, it held that no interest was leviable under section 234B, following a precedent set by the Delhi High Court. en-us Tue, 02 Feb 2016 00:00:00 +0530 Sat, 27 Feb 2016 09:11:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272131 The Tribunal consolidated identical appeals and ruled in favor of the assessee, directing the deletion of various disallowances and additions. It emphasized the proper application of the Profits Split Method (PSM) on non-AE transactions, preventing double taxation and disallowance. The Tribunal also corrected the taxation rate on service fee income and interest expenses, granting relief on the denial of set-off of brought forward losses. Additionally, it held that no interest was leviable under section 234B, following a precedent set by the Delhi High Court. Case-Laws Income Tax Tue, 02 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272131