https://www.taxtmi.com/caselaws?id=361640 The Tribunal partly allowed the appeal, upholding some disallowances and directing further verification or deletion of others. The judgment emphasized the importance of genuine transactions and proper application of transfer pricing provisions. The hire purchase transaction of the drilling Rig was deemed non-genuine, leading to disallowance of depreciation and deductions related to the Rig. Transfer pricing adjustments were made on various international transactions, with some upheld and others deleted or remitted for further verification. Payments to non-resident entities were disallowed for non-deduction of tax at source. en-us Wed, 11 Apr 2018 00:00:00 +0530 Fri, 24 Aug 2018 11:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361640 The Tribunal partly allowed the appeal, upholding some disallowances and directing further verification or deletion of others. The judgment emphasized the importance of genuine transactions and proper application of transfer pricing provisions. The hire purchase transaction of the drilling Rig was deemed non-genuine, leading to disallowance of depreciation and deductions related to the Rig. Transfer pricing adjustments were made on various international transactions, with some upheld and others deleted or remitted for further verification. Payments to non-resident entities were disallowed for non-deduction of tax at source. Case-Laws Income Tax Wed, 11 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361640