https://www.taxtmi.com/caselaws?id=409073 The tribunal condoned the delay in filing the Revenue's Appeal due to a reasonable cause presented by the Income Tax Officer. It admitted the appeal for hearing on merits. The tribunal reversed the Transfer Pricing Officer's actions on arm's length price adjustments, emphasizing consistency and adherence to market prices. Interest on receivables was deemed an international transaction, and benchmarking was required based on uncontrolled market prices. Communication charges were excluded from turnover, and business promotion expenses were partially disallowed. The Revenue's Appeal was dismissed, and the Assessee's appeals were partly allowed, with detailed reasoning provided. en-us Wed, 09 Jun 2021 00:00:00 +0530 Mon, 28 Jun 2021 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409073 The tribunal condoned the delay in filing the Revenue's Appeal due to a reasonable cause presented by the Income Tax Officer. It admitted the appeal for hearing on merits. The tribunal reversed the Transfer Pricing Officer's actions on arm's length price adjustments, emphasizing consistency and adherence to market prices. Interest on receivables was deemed an international transaction, and benchmarking was required based on uncontrolled market prices. Communication charges were excluded from turnover, and business promotion expenses were partially disallowed. The Revenue's Appeal was dismissed, and the Assessee's appeals were partly allowed, with detailed reasoning provided. Case-Laws Income Tax Wed, 09 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409073