https://www.taxtmi.com/caselaws?id=413387 The Tribunal dismissed the Revenue's appeal and partly allowed the appellant's appeal. It upheld the use of Resale Price Method (RPM) for benchmarking the purchase of formulations, directing reconsideration by the Tax Authorities. The Tribunal also deleted the Transfer Pricing adjustment on Advertisement, Marketing, and Sales Promotion (AMP) expenses. Furthermore, it ruled in favor of the appellant regarding the disallowance of expenses on conferences, seminars, and sales promotion under section 37(1) of the Act, stating that the disallowance was not sustainable in law. en-us Wed, 01 Sep 2021 00:00:00 +0530 Sun, 10 Oct 2021 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413387 The Tribunal dismissed the Revenue's appeal and partly allowed the appellant's appeal. It upheld the use of Resale Price Method (RPM) for benchmarking the purchase of formulations, directing reconsideration by the Tax Authorities. The Tribunal also deleted the Transfer Pricing adjustment on Advertisement, Marketing, and Sales Promotion (AMP) expenses. Furthermore, it ruled in favor of the appellant regarding the disallowance of expenses on conferences, seminars, and sales promotion under section 37(1) of the Act, stating that the disallowance was not sustainable in law. Case-Laws Income Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413387