https://www.taxtmi.com/caselaws?id=399950 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross objections. It held that the deletion of adjustment to Arm's Length Price (ALP) in respect of Advertising, Marketing, and Promotion (AMP) expenditure was justified as AMP expenditure was not considered an international transaction. Additionally, the Tribunal upheld the allowability of unabsorbed depreciation pertaining to Assessment Year 1998-1999 and up to Assessment Year 2001-02 to be carried forward and adjusted based on the amended provisions of section 32(2) of the Income Tax Act. en-us Thu, 10 Sep 2020 00:00:00 +0530 Fri, 23 Oct 2020 15:26:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399950 The Tribunal dismissed the revenue's appeal and allowed the assessee's cross objections. It held that the deletion of adjustment to Arm's Length Price (ALP) in respect of Advertising, Marketing, and Promotion (AMP) expenditure was justified as AMP expenditure was not considered an international transaction. Additionally, the Tribunal upheld the allowability of unabsorbed depreciation pertaining to Assessment Year 1998-1999 and up to Assessment Year 2001-02 to be carried forward and adjusted based on the amended provisions of section 32(2) of the Income Tax Act. Case-Laws Income Tax Thu, 10 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399950