https://www.taxtmi.com/caselaws?id=397067 The appeal was allowed, directing the AO to recompute the margin of remaining comparables for transfer pricing adjustment and delete the disallowance under section 14A of the Income Tax Act. The Tribunal excluded certain companies from comparables, citing errors in the TPO's approach and lack of consideration for functional differences. The disallowance under section 14A was deleted as the AO failed to record satisfaction as per Rule 8D. The procedural delay due to COVID-19 was acknowledged, with the appeal decided in favor of the assessee. en-us Mon, 27 Jul 2020 00:00:00 +0530 Sat, 01 Aug 2020 11:39:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397067 The appeal was allowed, directing the AO to recompute the margin of remaining comparables for transfer pricing adjustment and delete the disallowance under section 14A of the Income Tax Act. The Tribunal excluded certain companies from comparables, citing errors in the TPO's approach and lack of consideration for functional differences. The disallowance under section 14A was deleted as the AO failed to record satisfaction as per Rule 8D. The procedural delay due to COVID-19 was acknowledged, with the appeal decided in favor of the assessee. Case-Laws Income Tax Mon, 27 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397067