https://www.taxtmi.com/caselaws?id=397187 AMP transfer pricing adjustment was held unsustainable because excess advertisement, marketing and sales promotion spend, by itself, does not establish an international transaction or justify use of the Bright Line Test; tangible evidence of an arrangement for the foreign associated enterprise is required. Depreciation on assets de-capitalised and transferred to stock-in-trade was also held allowable under the block-of-assets regime, since depreciation continues on the written down value so long as the block remains in existence. The remaining tax-credit matter was left for verification, and the substantive relief was in favour of the assessee. en-us Wed, 05 Aug 2020 00:00:00 +0530 Fri, 07 Aug 2020 07:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397187 AMP transfer pricing adjustment was held unsustainable because excess advertisement, marketing and sales promotion spend, by itself, does not establish an international transaction or justify use of the Bright Line Test; tangible evidence of an arrangement for the foreign associated enterprise is required. Depreciation on assets de-capitalised and transferred to stock-in-trade was also held allowable under the block-of-assets regime, since depreciation continues on the written down value so long as the block remains in existence. The remaining tax-credit matter was left for verification, and the substantive relief was in favour of the assessee. Case-Laws Income Tax Wed, 05 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397187