https://www.taxtmi.com/caselaws?id=404375 The Tribunal remanded the issue of depreciation classification for fresh consideration, emphasizing the application of the functional test. It directed the AO to delete disallowances related to product promotion expenses and advertisement expenditures, noting lack of evidence and justification. The Tribunal held that TNMM was the appropriate method for transfer pricing adjustments, directing the deletion of adjustments relating to sale of goods, advertisement expenses, and royalty charges. The judgment ensured consistency with prior decisions, providing a thorough analysis of each issue based on relevant legal principles. en-us Tue, 08 Dec 2020 00:00:00 +0530 Sun, 21 Feb 2021 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404375 The Tribunal remanded the issue of depreciation classification for fresh consideration, emphasizing the application of the functional test. It directed the AO to delete disallowances related to product promotion expenses and advertisement expenditures, noting lack of evidence and justification. The Tribunal held that TNMM was the appropriate method for transfer pricing adjustments, directing the deletion of adjustments relating to sale of goods, advertisement expenses, and royalty charges. The judgment ensured consistency with prior decisions, providing a thorough analysis of each issue based on relevant legal principles. Case-Laws Income Tax Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404375