https://www.taxtmi.com/caselaws?id=301064 The appeal of the assessee challenging the adjustment in the price of international transactions was allowed for statistical purposes. The Tribunal remitted several issues, including the adjustment in transfer pricing, exclusion of certain comparables, recognition of excess revenue under a contract, disallowance of provision for warranty, and deduction for prior period expenses, to the Assessing Officer for re-adjudication. The initiation of penalty proceedings under section 271(1)(c) was deemed premature and rejected, with the possibility of defense against the penalty in separate proceedings if initiated by the Assessing Officer. en-us Fri, 02 Mar 2012 00:00:00 +0530 Thu, 10 Mar 2022 15:38:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301064 The appeal of the assessee challenging the adjustment in the price of international transactions was allowed for statistical purposes. The Tribunal remitted several issues, including the adjustment in transfer pricing, exclusion of certain comparables, recognition of excess revenue under a contract, disallowance of provision for warranty, and deduction for prior period expenses, to the Assessing Officer for re-adjudication. The initiation of penalty proceedings under section 271(1)(c) was deemed premature and rejected, with the possibility of defense against the penalty in separate proceedings if initiated by the Assessing Officer. Case-Laws Income Tax Fri, 02 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301064