https://www.taxtmi.com/caselaws?id=331390 Delayed receivables from an associated enterprise were treated as part of the underlying sale or service transaction for transfer-pricing purposes, so the arm's length analysis had to aggregate the credit period with the principal transaction; the matter was remanded for fresh computation. Electricity paid for a director's residence and directors' foreign travel were held not deductible because no business obligation or exclusive business purpose was shown. Foreign exchange loss on advances to a subsidiary and interest disallowance on capital work in progress were sent back for reconsideration on the relevant facts. Software development and multilingual manual expenditure was capital in nature, with depreciation allowable. The write-off of re-transferred sundry debtors was allowed as bad debt. en-us Fri, 19 Aug 2016 00:00:00 +0530 Mon, 22 Aug 2016 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331390 Delayed receivables from an associated enterprise were treated as part of the underlying sale or service transaction for transfer-pricing purposes, so the arm's length analysis had to aggregate the credit period with the principal transaction; the matter was remanded for fresh computation. Electricity paid for a director's residence and directors' foreign travel were held not deductible because no business obligation or exclusive business purpose was shown. Foreign exchange loss on advances to a subsidiary and interest disallowance on capital work in progress were sent back for reconsideration on the relevant facts. Software development and multilingual manual expenditure was capital in nature, with depreciation allowable. The write-off of re-transferred sundry debtors was allowed as bad debt. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331390