https://www.taxtmi.com/caselaws?id=392489 The ITAT Bangalore dismissed cross appeals by both the assessee and the Revenue for the Assessment Years 2010-11 and 2011-12. The Tribunal found that the TP grounds were irrelevant due to the conclusion of the MAP. Regarding the corporate tax issue for 2011-12, the Tribunal upheld the AO's order, aligning with the Karnataka HC precedent, which clarified that reducing export turnover also reduces total turnover. The appeals were dismissed based on these considerations, with the judgment pronounced on 07-02-2020. en-us Fri, 07 Feb 2020 00:00:00 +0530 Thu, 07 Nov 2024 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392489 The ITAT Bangalore dismissed cross appeals by both the assessee and the Revenue for the Assessment Years 2010-11 and 2011-12. The Tribunal found that the TP grounds were irrelevant due to the conclusion of the MAP. Regarding the corporate tax issue for 2011-12, the Tribunal upheld the AO's order, aligning with the Karnataka HC precedent, which clarified that reducing export turnover also reduces total turnover. The appeals were dismissed based on these considerations, with the judgment pronounced on 07-02-2020. Case-Laws Income Tax Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392489