https://www.taxtmi.com/caselaws?id=403149 The ITAT allowed the assessee's appeal in relation to disallowance under section 40(a)(i) of the Act for payments to a foreign entity without TDS, disallowance of provision for sales incentive under "Shahenshah Scheme," denial of deduction under section 80IC on interest income, and denial of deduction for education cess and secondary and higher education cess. However, the ITAT upheld the AO's decision regarding the denial of deduction for interest expenses capitalized for new units and partially upheld the transfer pricing adjustments, directing the exclusion of certain companies as comparables. The appeals were partly allowed and dismissed accordingly. en-us Tue, 19 Jan 2021 00:00:00 +0530 Wed, 20 Jan 2021 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403149 The ITAT allowed the assessee's appeal in relation to disallowance under section 40(a)(i) of the Act for payments to a foreign entity without TDS, disallowance of provision for sales incentive under "Shahenshah Scheme," denial of deduction under section 80IC on interest income, and denial of deduction for education cess and secondary and higher education cess. However, the ITAT upheld the AO's decision regarding the denial of deduction for interest expenses capitalized for new units and partially upheld the transfer pricing adjustments, directing the exclusion of certain companies as comparables. The appeals were partly allowed and dismissed accordingly. Case-Laws Income Tax Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403149