https://www.taxtmi.com/caselaws?id=335809 The Tribunal partly allowed the assessee's appeal, dismissing the reopening of assessment under section 147. It directed verification for deduction under section 80IB for interest on margin money deposit, allowing exclusion of only net interest from profits for computing deduction under section 80IB. The Tribunal deleted the adjustment under section 92C for international transactions, applying the operating margin differentials only to associated enterprise transactions. It also overturned the disallowance of Managing Director's remuneration under section 40A(2) due to lack of justification by the Assessing Officer. en-us Mon, 21 Nov 2016 00:00:00 +0530 Fri, 09 Dec 2016 16:19:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335809 The Tribunal partly allowed the assessee's appeal, dismissing the reopening of assessment under section 147. It directed verification for deduction under section 80IB for interest on margin money deposit, allowing exclusion of only net interest from profits for computing deduction under section 80IB. The Tribunal deleted the adjustment under section 92C for international transactions, applying the operating margin differentials only to associated enterprise transactions. It also overturned the disallowance of Managing Director's remuneration under section 40A(2) due to lack of justification by the Assessing Officer. Case-Laws Income Tax Mon, 21 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335809