https://www.taxtmi.com/caselaws?id=194275 The Tribunal partly allowed the appeals for both assessment years, remitting several issues back to the AO for reconsideration. Disallowances under various sections were either upheld or adjusted based on the Tribunal's directions. Notably, the Tribunal directed the AO to calculate the Profit Level Indicator based on international transactions alone for transfer pricing issues and restricted disallowances under Section 14A to 2% of exempt income. The Tribunal also deleted disallowances related to interest on a loan to a subsidiary and additional depreciation, citing relevant case law precedents. en-us Fri, 30 Sep 2016 00:00:00 +0530 Mon, 04 Sep 2017 08:58:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194275 The Tribunal partly allowed the appeals for both assessment years, remitting several issues back to the AO for reconsideration. Disallowances under various sections were either upheld or adjusted based on the Tribunal's directions. Notably, the Tribunal directed the AO to calculate the Profit Level Indicator based on international transactions alone for transfer pricing issues and restricted disallowances under Section 14A to 2% of exempt income. The Tribunal also deleted disallowances related to interest on a loan to a subsidiary and additional depreciation, citing relevant case law precedents. Case-Laws Income Tax Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194275