https://www.taxtmi.com/caselaws?id=396661 The Karnataka High Court ruled that employees' contributions towards EPF and ESI, made before the due date for filing income tax returns, are deductible under Section 36(1)(va). In the transfer pricing dispute, the Tribunal upheld the TPO's adjustment, adding income due to a shortfall in international transaction pricing. The Tribunal excluded Persistent Systems Ltd. and remanded Tech Mahindra Ltd. for reconsideration based on related party transactions. Working capital adjustment was allowed, aligning the profit margin with the Arm's Length Price range. The appeal was partly allowed with specific directions, pronounced on 3rd July 2020. en-us Fri, 03 Jul 2020 00:00:00 +0530 Wed, 15 Jul 2020 15:16:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396661 The Karnataka High Court ruled that employees' contributions towards EPF and ESI, made before the due date for filing income tax returns, are deductible under Section 36(1)(va). In the transfer pricing dispute, the Tribunal upheld the TPO's adjustment, adding income due to a shortfall in international transaction pricing. The Tribunal excluded Persistent Systems Ltd. and remanded Tech Mahindra Ltd. for reconsideration based on related party transactions. Working capital adjustment was allowed, aligning the profit margin with the Arm's Length Price range. The appeal was partly allowed with specific directions, pronounced on 3rd July 2020. Case-Laws Income Tax Fri, 03 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396661