https://www.taxtmi.com/caselaws?id=292593 The ITAT upheld the exclusion of three companies from the TPO's list, agreeing with the DRP on functional dissimilarity. It directed the AO to delete disallowances of TDS under Section 43B, rectify the interest addition on short-term deposits, and allow correct TDS credit. The Tribunal also ordered verification and allowance of brought forward losses, withdrawal of tax and interest on distributable profits under Section 115-O, and correction of interest levies under Sections 234A, 234B, and 234C. The Revenue's appeal and Assessee's cross-objection were dismissed, while the Assessee's appeal was allowed for statistical purposes with directions for rectification. en-us Tue, 28 Feb 2017 00:00:00 +0530 Wed, 13 Nov 2024 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292593 The ITAT upheld the exclusion of three companies from the TPO's list, agreeing with the DRP on functional dissimilarity. It directed the AO to delete disallowances of TDS under Section 43B, rectify the interest addition on short-term deposits, and allow correct TDS credit. The Tribunal also ordered verification and allowance of brought forward losses, withdrawal of tax and interest on distributable profits under Section 115-O, and correction of interest levies under Sections 234A, 234B, and 234C. The Revenue's appeal and Assessee's cross-objection were dismissed, while the Assessee's appeal was allowed for statistical purposes with directions for rectification. Case-Laws Income Tax Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292593