https://www.taxtmi.com/caselaws?id=371507 The tribunal partly allowed the appeals, setting aside the transfer pricing adjustments on corporate and business support services due to lack of concrete evidence. However, the disallowance of expenses and depreciation related to the Chennai unit was upheld as they were deemed not incurred for business purposes. The tribunal found the TPO's estimation method for services whimsical and upheld that depreciation is only allowable if assets are used for business purposes. The short-grant of tax credit under Section 115JAA was not specifically addressed in the judgment. en-us Mon, 19 Nov 2018 00:00:00 +0530 Wed, 05 Dec 2018 08:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371507 The tribunal partly allowed the appeals, setting aside the transfer pricing adjustments on corporate and business support services due to lack of concrete evidence. However, the disallowance of expenses and depreciation related to the Chennai unit was upheld as they were deemed not incurred for business purposes. The tribunal found the TPO's estimation method for services whimsical and upheld that depreciation is only allowable if assets are used for business purposes. The short-grant of tax credit under Section 115JAA was not specifically addressed in the judgment. Case-Laws Income Tax Mon, 19 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371507