https://www.taxtmi.com/caselaws?id=431383 The Tribunal allowed the assessee's appeal in a transfer pricing case involving accrued interest and bad debts. It held that the Transfer Pricing Officer's failure to follow prescribed methods in determining the arm's length price rendered the adjustments unsustainable. The Tribunal emphasized the need for proper benchmarking and adherence to statutory provisions, ultimately overturning the significant additions to the taxable income. The decision highlighted that the writing off of amounts did not impact the arm's length price of the transactions, leading to the allowance of the appeal and rejecting the TPO's adjustments. en-us Thu, 18 Aug 2022 00:00:00 +0530 Sat, 10 Dec 2022 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431383 The Tribunal allowed the assessee's appeal in a transfer pricing case involving accrued interest and bad debts. It held that the Transfer Pricing Officer's failure to follow prescribed methods in determining the arm's length price rendered the adjustments unsustainable. The Tribunal emphasized the need for proper benchmarking and adherence to statutory provisions, ultimately overturning the significant additions to the taxable income. The decision highlighted that the writing off of amounts did not impact the arm's length price of the transactions, leading to the allowance of the appeal and rejecting the TPO's adjustments. Case-Laws Income Tax Thu, 18 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431383