https://www.taxtmi.com/caselaws?id=362440 The Tribunal allowed the appeals for both assessment years, directing the AO to allow deductions under Section 44C and delete additions on account of undisclosed markup on costs incurred by the Head Office. The decision emphasized that genuine expenses incurred by the Head Office, even if not debited in the Branch Office's books, are deductible under Section 44C, and any income from such expenses should be attributed to the Head Office, not the Branch Office. en-us Thu, 31 May 2018 00:00:00 +0530 Tue, 26 Jun 2018 15:59:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362440 The Tribunal allowed the appeals for both assessment years, directing the AO to allow deductions under Section 44C and delete additions on account of undisclosed markup on costs incurred by the Head Office. The decision emphasized that genuine expenses incurred by the Head Office, even if not debited in the Branch Office's books, are deductible under Section 44C, and any income from such expenses should be attributed to the Head Office, not the Branch Office. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362440