https://www.taxtmi.com/caselaws?id=342220 The appeal filed by the revenue was partly allowed, and the cross-objection filed by the assessee was also partly allowed. The Dispute Resolution Panel (DRP) upheld the adjustments for G&A expenses, Management Service and Unit Charges, and club entrance and subscription fees. The issue of the loan transaction was remanded to the Transfer Pricing Officer (TPO) for fresh determination of the arm's length price. The disallowance of exploration cost reimbursed to ONGC was upheld, and the cross-objection regarding the initiation of penalty proceedings was dismissed as premature. The issue of the levy of interest was remanded to the Assessing Officer (AO) for recomputation. en-us Wed, 26 Apr 2017 00:00:00 +0530 Sat, 29 Apr 2017 10:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342220 The appeal filed by the revenue was partly allowed, and the cross-objection filed by the assessee was also partly allowed. The Dispute Resolution Panel (DRP) upheld the adjustments for G&A expenses, Management Service and Unit Charges, and club entrance and subscription fees. The issue of the loan transaction was remanded to the Transfer Pricing Officer (TPO) for fresh determination of the arm's length price. The disallowance of exploration cost reimbursed to ONGC was upheld, and the cross-objection regarding the initiation of penalty proceedings was dismissed as premature. The issue of the levy of interest was remanded to the Assessing Officer (AO) for recomputation. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342220