https://www.taxtmi.com/caselaws?id=302595 The case involved issues regarding the confirmation of addition on account of arm's length price (ALP), disallowance under section 14A of the Income Tax Act, computation of interest under section 234B, and penalty proceedings under section 271(1)(c). The ITAT partially allowed the appeal, directing the exclusion of certain comparables for ALP determination and remanding the disallowance issue for further verification. The matter of interest computation was not detailed in the judgment, typically requiring recalculations post-appeal adjustments. The initiation of penalty proceedings was deemed premature, pending the final reassessment outcome. Key issues were remanded for reconsideration and verification by the AO/TPO. en-us Fri, 18 May 2018 00:00:00 +0530 Wed, 08 Jun 2022 07:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302595 The case involved issues regarding the confirmation of addition on account of arm's length price (ALP), disallowance under section 14A of the Income Tax Act, computation of interest under section 234B, and penalty proceedings under section 271(1)(c). The ITAT partially allowed the appeal, directing the exclusion of certain comparables for ALP determination and remanding the disallowance issue for further verification. The matter of interest computation was not detailed in the judgment, typically requiring recalculations post-appeal adjustments. The initiation of penalty proceedings was deemed premature, pending the final reassessment outcome. Key issues were remanded for reconsideration and verification by the AO/TPO. Case-Laws Income Tax Fri, 18 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302595