https://www.taxtmi.com/caselaws?id=281417 The Tribunal decided in favor of the revenue regarding the application of the turnover filter, allowing the removal of the turnover filter. It upheld the exclusion of expenses on telecommunications, freight, and insurance incurred in foreign currency for computing deductions under Section 10A of the Income Tax Act. The Tribunal excluded certain companies from the transfer pricing comparables due to functional dissimilarity and directed the computation of Arm's Length Price based on remaining comparables. Additionally, the Tribunal allowed the entire lease rental payments, including both interest and principal, as revenue expenditure, dismissing the revenue's appeal on this issue. Both parties' appeals were partly allowed. en-us Wed, 25 Jan 2017 00:00:00 +0530 Tue, 18 Jun 2019 21:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281417 The Tribunal decided in favor of the revenue regarding the application of the turnover filter, allowing the removal of the turnover filter. It upheld the exclusion of expenses on telecommunications, freight, and insurance incurred in foreign currency for computing deductions under Section 10A of the Income Tax Act. The Tribunal excluded certain companies from the transfer pricing comparables due to functional dissimilarity and directed the computation of Arm's Length Price based on remaining comparables. Additionally, the Tribunal allowed the entire lease rental payments, including both interest and principal, as revenue expenditure, dismissing the revenue's appeal on this issue. Both parties' appeals were partly allowed. Case-Laws Income Tax Wed, 25 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281417