https://www.taxtmi.com/caselaws?id=397949 The Tribunal ruled in favor of the assessee, allowing the deduction under section 10AA for voluntary transfer pricing adjustments. The decision emphasized that the voluntary adjustments were distinct from TPO adjustments and were eligible for the deduction, despite the provisions of Section 92C(4) of the Income Tax Act. The judgment underscored the importance of interpreting the statutory provisions in line with the specific circumstances of the case, ultimately supporting the assessee's position regarding the claim of deduction under section 10AA. en-us Mon, 31 Aug 2020 00:00:00 +0530 Wed, 02 Sep 2020 13:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397949 The Tribunal ruled in favor of the assessee, allowing the deduction under section 10AA for voluntary transfer pricing adjustments. The decision emphasized that the voluntary adjustments were distinct from TPO adjustments and were eligible for the deduction, despite the provisions of Section 92C(4) of the Income Tax Act. The judgment underscored the importance of interpreting the statutory provisions in line with the specific circumstances of the case, ultimately supporting the assessee's position regarding the claim of deduction under section 10AA. Case-Laws Income Tax Mon, 31 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397949