https://www.taxtmi.com/caselaws?id=287318 The ITAT partially allowed the appeal, directing specific actions for each issue. Additions for unearned revenue and liquidated damages were deleted, aligning with accounting standards and legal precedents. Issues regarding foreign currency expenditure and technical training were remanded to the AO for further verification. Depreciation on goodwill was allowed, following Supreme Court guidance. Transfer pricing adjustments were remanded for fresh examination, adhering to prior tribunal decisions. The tribunal underscored the importance of compliance with established accounting standards and legal precedents for accurate income and expense assessments. en-us Thu, 21 Nov 2019 00:00:00 +0530 Thu, 14 Nov 2024 12:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287318 The ITAT partially allowed the appeal, directing specific actions for each issue. Additions for unearned revenue and liquidated damages were deleted, aligning with accounting standards and legal precedents. Issues regarding foreign currency expenditure and technical training were remanded to the AO for further verification. Depreciation on goodwill was allowed, following Supreme Court guidance. Transfer pricing adjustments were remanded for fresh examination, adhering to prior tribunal decisions. The tribunal underscored the importance of compliance with established accounting standards and legal precedents for accurate income and expense assessments. Case-Laws Income Tax Thu, 21 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287318