https://www.taxtmi.com/caselaws?id=368025 The Revenue's appeal regarding transfer pricing adjustments on advertisement and sales promotion expenses was dismissed. The Tribunal upheld that the expenses were allowable under Section 37(1) of the Income Tax Act, emphasizing their role in marketing activities. The "Bright Line Method" for determining arm's length price was rejected, aligning with past decisions. Comparisons with prior cases supported the deduction of such expenses. The Court ruled in favor of the respondent-assessee, noting consistency with established precedents and the assessee's business closure in India due to losses. en-us Tue, 18 Sep 2018 00:00:00 +0530 Fri, 28 Sep 2018 16:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368025 The Revenue's appeal regarding transfer pricing adjustments on advertisement and sales promotion expenses was dismissed. The Tribunal upheld that the expenses were allowable under Section 37(1) of the Income Tax Act, emphasizing their role in marketing activities. The "Bright Line Method" for determining arm's length price was rejected, aligning with past decisions. Comparisons with prior cases supported the deduction of such expenses. The Court ruled in favor of the respondent-assessee, noting consistency with established precedents and the assessee's business closure in India due to losses. Case-Laws Income Tax Tue, 18 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368025