https://www.taxtmi.com/caselaws?id=402616 The Tribunal partly allowed the appeal, directing re-computation and adjustments. The addition related to transfer pricing adjustment was revised after exclusion of certain companies. The disallowance of interest on ECB loans was overturned as the loan was for business expansion. The additional depreciation claim on computers was withdrawn. The Tribunal held that disallowed amounts, excluding transfer pricing adjustments, should increase profits for deduction u/s 10A. The AO was instructed to re-compute the deduction following CBDT Circular No. 37/2016. en-us Tue, 05 Jan 2021 00:00:00 +0530 Sat, 03 Apr 2021 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402616 The Tribunal partly allowed the appeal, directing re-computation and adjustments. The addition related to transfer pricing adjustment was revised after exclusion of certain companies. The disallowance of interest on ECB loans was overturned as the loan was for business expansion. The additional depreciation claim on computers was withdrawn. The Tribunal held that disallowed amounts, excluding transfer pricing adjustments, should increase profits for deduction u/s 10A. The AO was instructed to re-compute the deduction following CBDT Circular No. 37/2016. Case-Laws Income Tax Tue, 05 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402616