https://www.taxtmi.com/caselaws?id=362916 The Tribunal allowed the appeals partly, directing further verification by the Assessing Officer on various issues. The Tribunal upheld the deduction of provision for warranty expenses and transfer pricing adjustment but restored the disallowance of liquidated damages and countervailing duty for re-examination. The Tribunal rejected the additional ground for deduction of countervailing duty on imported machinery and disallowance of countervailing duty paid in earlier years. It emphasized adherence to contractual obligations, proper accounting methods, and principles of natural justice in tax assessments. en-us Tue, 03 Jul 2018 00:00:00 +0530 Thu, 05 Jul 2018 12:08:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362916 The Tribunal allowed the appeals partly, directing further verification by the Assessing Officer on various issues. The Tribunal upheld the deduction of provision for warranty expenses and transfer pricing adjustment but restored the disallowance of liquidated damages and countervailing duty for re-examination. The Tribunal rejected the additional ground for deduction of countervailing duty on imported machinery and disallowance of countervailing duty paid in earlier years. It emphasized adherence to contractual obligations, proper accounting methods, and principles of natural justice in tax assessments. Case-Laws Income Tax Tue, 03 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362916