https://www.taxtmi.com/caselaws?id=193696 Transfer pricing adjustment on advertisement, marketing and sales promotion expenditure depends first on proof of an international transaction; where the assessee incurs AMP spend with third parties in India for its own products and no agreement or understanding obliges it to promote the associated enterprise's brand, the spend cannot be re-characterised as a deemed transaction, so the mark-up adjustment fails. The restored depreciation regime under section 32(2) allows carry forward and set-off of unabsorbed depreciation without the earlier restriction period, so brought forward depreciation remains available against business income. On that basis, the AMP addition was deleted and the depreciation set-off was allowed. en-us Wed, 04 May 2016 00:00:00 +0530 Mon, 11 Jul 2022 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193696 Transfer pricing adjustment on advertisement, marketing and sales promotion expenditure depends first on proof of an international transaction; where the assessee incurs AMP spend with third parties in India for its own products and no agreement or understanding obliges it to promote the associated enterprise's brand, the spend cannot be re-characterised as a deemed transaction, so the mark-up adjustment fails. The restored depreciation regime under section 32(2) allows carry forward and set-off of unabsorbed depreciation without the earlier restriction period, so brought forward depreciation remains available against business income. On that basis, the AMP addition was deleted and the depreciation set-off was allowed. Case-Laws Income Tax Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193696