https://www.taxtmi.com/caselaws?id=398157 The appeal was partly allowed, with specific directions given to the Transfer Pricing Officer (TPO) and Assessing Officer (AO) for fresh consideration and adjustments in accordance with the Tribunal's findings and previous decisions. The Tribunal emphasized the importance of proper benchmarking and verification of facts before making any adjustments. Notably, adjustments regarding Corporate Guarantee to Associated Enterprise were restricted to 0.5% of the guarantee amount until a certain date, and various disallowances were deleted based on commercial expediency and absence of exempt income. Penalties and interest levies were rendered infructuous due to rectification orders. en-us Fri, 17 Jul 2020 00:00:00 +0530 Thu, 10 Sep 2020 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398157 The appeal was partly allowed, with specific directions given to the Transfer Pricing Officer (TPO) and Assessing Officer (AO) for fresh consideration and adjustments in accordance with the Tribunal's findings and previous decisions. The Tribunal emphasized the importance of proper benchmarking and verification of facts before making any adjustments. Notably, adjustments regarding Corporate Guarantee to Associated Enterprise were restricted to 0.5% of the guarantee amount until a certain date, and various disallowances were deleted based on commercial expediency and absence of exempt income. Penalties and interest levies were rendered infructuous due to rectification orders. Case-Laws Income Tax Fri, 17 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398157