https://www.taxtmi.com/caselaws?id=360017 The Tribunal directed the Transfer Pricing Officer to reconsider the foreign associated enterprise as the tested party for benchmarking international transactions if complete financials and comparables are provided. The Tribunal allowed the deduction under Section 10B for foreign exchange gains and forward contract sales directly linked to the export business. It directed the AO to recompute disallowance under Section 14A without applying Rule 8D. The Tribunal considered royalty and technical know-how fees as revenue expenditure, not capital. It instructed the AO to exclude income and expenses of eligible units from the computation of book profits under Section 115JB. The Tribunal emphasized the importance of accurate financial data and adherence to legal principles in tax assessments. en-us Tue, 01 May 2018 00:00:00 +0530 Tue, 08 May 2018 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360017 The Tribunal directed the Transfer Pricing Officer to reconsider the foreign associated enterprise as the tested party for benchmarking international transactions if complete financials and comparables are provided. The Tribunal allowed the deduction under Section 10B for foreign exchange gains and forward contract sales directly linked to the export business. It directed the AO to recompute disallowance under Section 14A without applying Rule 8D. The Tribunal considered royalty and technical know-how fees as revenue expenditure, not capital. It instructed the AO to exclude income and expenses of eligible units from the computation of book profits under Section 115JB. The Tribunal emphasized the importance of accurate financial data and adherence to legal principles in tax assessments. Case-Laws Income Tax Tue, 01 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360017