https://www.taxtmi.com/caselaws?id=428693 The tribunal partly allowed the appeal, providing specific directions on various issues. The Transfer Pricing Officer was directed to apply a benchmarking interest rate and re-examine royalty on sales. Disallowance under Section 14A was reduced as the AO lacked satisfaction. Loans written-off for subsidiary equity were disallowed. Allocation of expenses for Section 80-IC deduction was adjusted, pending re-examination of trademark depreciation. Application software expenses were treated as revenue, reversing depreciation. TDS credit was to be verified and granted. Interest computation under Sections 234B/234C was noted as consequential. en-us Fri, 09 Sep 2022 00:00:00 +0530 Fri, 07 Oct 2022 17:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428693 The tribunal partly allowed the appeal, providing specific directions on various issues. The Transfer Pricing Officer was directed to apply a benchmarking interest rate and re-examine royalty on sales. Disallowance under Section 14A was reduced as the AO lacked satisfaction. Loans written-off for subsidiary equity were disallowed. Allocation of expenses for Section 80-IC deduction was adjusted, pending re-examination of trademark depreciation. Application software expenses were treated as revenue, reversing depreciation. TDS credit was to be verified and granted. Interest computation under Sections 234B/234C was noted as consequential. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428693