https://www.taxtmi.com/caselaws?id=293711 The appeal filed by the assessee for the assessment year 2009-10 was partly allowed. The Tribunal directed the AO to reexamine the lease agreement to determine the nature of the lease rental paid to IBM, delete the transfer pricing adjustment on royalty payments, and reconsider the charging of excess interest under section 234C of the Act. The issue of penalty proceedings under section 271(1)(c) was deemed premature and not adjudicated. en-us Tue, 13 Aug 2019 00:00:00 +0530 Fri, 26 Feb 2021 09:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293711 The appeal filed by the assessee for the assessment year 2009-10 was partly allowed. The Tribunal directed the AO to reexamine the lease agreement to determine the nature of the lease rental paid to IBM, delete the transfer pricing adjustment on royalty payments, and reconsider the charging of excess interest under section 234C of the Act. The issue of penalty proceedings under section 271(1)(c) was deemed premature and not adjudicated. Case-Laws Income Tax Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293711