https://www.taxtmi.com/caselaws?id=194576 The Tribunal partially upheld the Transfer Pricing Officer's adjustments, reducing the transfer pricing adjustment for clinical study management and monitoring support services. The Tribunal remitted the estimation of indirect costs back to the Assessing Officer for verification. The issue of determining the most appropriate method for transfer pricing of imported finished direct formulations was remitted for fresh examination. The Tribunal allowed the depreciation claim on assets of the closed Ankleshwar plant and upheld the treatment of income from sub-leasing as house property income. The levy of interest under section 234D was upheld, and the exclusion of Syngene International Pvt. Ltd. as a comparable was affirmed. Market research expenses were allowed as business expenditure. The assessee's appeal was partly allowed, and the Revenue's appeal was dismissed. en-us Fri, 06 Nov 2015 00:00:00 +0530 Thu, 14 Sep 2017 18:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194576 The Tribunal partially upheld the Transfer Pricing Officer's adjustments, reducing the transfer pricing adjustment for clinical study management and monitoring support services. The Tribunal remitted the estimation of indirect costs back to the Assessing Officer for verification. The issue of determining the most appropriate method for transfer pricing of imported finished direct formulations was remitted for fresh examination. The Tribunal allowed the depreciation claim on assets of the closed Ankleshwar plant and upheld the treatment of income from sub-leasing as house property income. The levy of interest under section 234D was upheld, and the exclusion of Syngene International Pvt. Ltd. as a comparable was affirmed. Market research expenses were allowed as business expenditure. The assessee's appeal was partly allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194576