https://www.taxtmi.com/caselaws?id=306104 The Tribunal allowed the appeal partly, invalidating TP adjustments under Section 92BA(i) due to its retrospective omission by the Finance Act 2017. The AO was directed to delete the TP adjustments and reassess under Section 40A(2). Regarding the addition of trade creditors under Section 68, the Tribunal remanded the matter to the AO for reconsideration based on the evidence provided by the assessee, emphasizing the need for a valid reason for any rejection. en-us Mon, 07 Feb 2022 00:00:00 +0530 Tue, 10 Jan 2023 21:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306104 The Tribunal allowed the appeal partly, invalidating TP adjustments under Section 92BA(i) due to its retrospective omission by the Finance Act 2017. The AO was directed to delete the TP adjustments and reassess under Section 40A(2). Regarding the addition of trade creditors under Section 68, the Tribunal remanded the matter to the AO for reconsideration based on the evidence provided by the assessee, emphasizing the need for a valid reason for any rejection. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306104