https://www.taxtmi.com/caselaws?id=397499 The ITAT allowed the assessee's appeals for the assessment years 2011-12, 2012-13, and 2013-14. The Tribunal held that the AO/TPO's adjustments to the Arm's Length Price (ALP) for international transactions were unsustainable due to non-compliance with prescribed methods under section 92C. Additionally, the Tribunal granted the assessee's claim for a weighted deduction under section 35(2AB) for Research and Development expenses, recognizing the approval by the Department of Scientific and Industrial Research. The consolidated order was pronounced on 18th August 2020, favoring the assessee on all grounds. en-us Tue, 18 Aug 2020 00:00:00 +0530 Tue, 05 Nov 2024 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397499 The ITAT allowed the assessee's appeals for the assessment years 2011-12, 2012-13, and 2013-14. The Tribunal held that the AO/TPO's adjustments to the Arm's Length Price (ALP) for international transactions were unsustainable due to non-compliance with prescribed methods under section 92C. Additionally, the Tribunal granted the assessee's claim for a weighted deduction under section 35(2AB) for Research and Development expenses, recognizing the approval by the Department of Scientific and Industrial Research. The consolidated order was pronounced on 18th August 2020, favoring the assessee on all grounds. Case-Laws Income Tax Tue, 18 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397499