https://www.taxtmi.com/caselaws?id=430105 Under TNMM, third-party freight costs that are back-to-back pass-through expenses were treated as outside the assessee's own functional cost base, so the appropriate PLI was operating profit/value added expenses rather than operating profit/total cost. A transport company with substantial owned assets and a materially different functional profile was held not to be a valid comparable for a low-asset logistics service provider and was excluded from the comparables set. The short grant of TDS credit was treated as a verification matter, requiring examination of Form 26AS and entitlement before credit could be allowed. en-us Mon, 31 Oct 2022 00:00:00 +0530 Wed, 09 Nov 2022 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430105 Under TNMM, third-party freight costs that are back-to-back pass-through expenses were treated as outside the assessee's own functional cost base, so the appropriate PLI was operating profit/value added expenses rather than operating profit/total cost. A transport company with substantial owned assets and a materially different functional profile was held not to be a valid comparable for a low-asset logistics service provider and was excluded from the comparables set. The short grant of TDS credit was treated as a verification matter, requiring examination of Form 26AS and entitlement before credit could be allowed. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430105