https://www.taxtmi.com/caselaws?id=400075 The assessment reopening for AY 2007-08 was deemed invalid due to lack of failure to disclose material facts by the assessee. Transfer Pricing adjustments related to AMP expenses were allowed for non-BCCI expenses, with BCCI-related expenses remanded for further examination. Adjustments concerning reimbursement of expenses were upheld, as the assessee failed to prove business necessity. Third-party royalty payments were adjusted to NIL for lack of RBI approval. Other adjustments were remanded for fresh examination, emphasizing the importance of detailed scrutiny and documentation. The Tribunal allowed the appeal for AY 2007-08 and partly allowed other appeals, with issues remanded for further review. en-us Wed, 14 Oct 2020 00:00:00 +0530 Mon, 26 Oct 2020 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400075 The assessment reopening for AY 2007-08 was deemed invalid due to lack of failure to disclose material facts by the assessee. Transfer Pricing adjustments related to AMP expenses were allowed for non-BCCI expenses, with BCCI-related expenses remanded for further examination. Adjustments concerning reimbursement of expenses were upheld, as the assessee failed to prove business necessity. Third-party royalty payments were adjusted to NIL for lack of RBI approval. Other adjustments were remanded for fresh examination, emphasizing the importance of detailed scrutiny and documentation. The Tribunal allowed the appeal for AY 2007-08 and partly allowed other appeals, with issues remanded for further review. Case-Laws Income Tax Wed, 14 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400075