https://www.taxtmi.com/caselaws?id=199734 The tribunal partly allowed the appeal, reducing the addition on account of transfer pricing adjustment to Rs. 23.76 crore from Rs. 31.61 crore. It upheld the inclusion of extraordinary costs as operating costs and directed the exclusion of capital expenses from the base amount for transfer pricing adjustment. The tribunal instructed the selection of comparables based on functional comparability, including Bharat Glass Tube Ltd. and Triveni Glass Ltd. It set aside the disallowance made under section 14A of the Income-tax Act, directing a reasonable disallowance as per relevant case law. en-us Wed, 06 Apr 2016 00:00:00 +0530 Fri, 09 Mar 2018 22:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199734 The tribunal partly allowed the appeal, reducing the addition on account of transfer pricing adjustment to Rs. 23.76 crore from Rs. 31.61 crore. It upheld the inclusion of extraordinary costs as operating costs and directed the exclusion of capital expenses from the base amount for transfer pricing adjustment. The tribunal instructed the selection of comparables based on functional comparability, including Bharat Glass Tube Ltd. and Triveni Glass Ltd. It set aside the disallowance made under section 14A of the Income-tax Act, directing a reasonable disallowance as per relevant case law. Case-Laws Income Tax Wed, 06 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199734