https://www.taxtmi.com/caselaws?id=329774 Transfer pricing adjustments to consultancy charges require a reasoned application of a prescribed method; an ad hoc adjustment cannot stand where the Comparable Uncontrolled Price method is supported by comparable independent transactions and is not validly rebutted. Business promotion, travelling, conveyance and telephone expenses cannot be disallowed on estimates without evidence that they are non-genuine, excessive or unrelated to business; personal-use assumptions are particularly inapplicable to a corporate assessee without supporting material. Mobilisation advances retain their contractual character and need not be treated as fully accrued income where contract-based income recognition is scientifically applied and unrebutted. The appellate deletion of these disallowances and addition was sustained. en-us Wed, 25 May 2016 00:00:00 +0530 Sat, 09 Jul 2016 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329774 Transfer pricing adjustments to consultancy charges require a reasoned application of a prescribed method; an ad hoc adjustment cannot stand where the Comparable Uncontrolled Price method is supported by comparable independent transactions and is not validly rebutted. Business promotion, travelling, conveyance and telephone expenses cannot be disallowed on estimates without evidence that they are non-genuine, excessive or unrelated to business; personal-use assumptions are particularly inapplicable to a corporate assessee without supporting material. Mobilisation advances retain their contractual character and need not be treated as fully accrued income where contract-based income recognition is scientifically applied and unrebutted. The appellate deletion of these disallowances and addition was sustained. Case-Laws Income Tax Wed, 25 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329774