https://www.taxtmi.com/caselaws?id=433452 The Tribunal partly allowed the assessee's appeal, directing the AO to allow certain expenses, compute losses as per revised returns, and reconsider disallowances as revenue expenditure. Transfer pricing adjustments were restricted, comparables were revised, and working capital adjustments were to be computed based on actuals. The Tribunal also addressed inconsistencies in foreign exchange treatment, directing the exclusion of abnormal forex losses from operating margins. The AO was instructed to restrict transfer pricing adjustments to specific international transactions. The revenue's appeal was allowed for statistical purposes, with detailed directions provided on each issue. en-us Thu, 29 Sep 2022 00:00:00 +0530 Tue, 31 Jan 2023 07:58:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433452 The Tribunal partly allowed the assessee's appeal, directing the AO to allow certain expenses, compute losses as per revised returns, and reconsider disallowances as revenue expenditure. Transfer pricing adjustments were restricted, comparables were revised, and working capital adjustments were to be computed based on actuals. The Tribunal also addressed inconsistencies in foreign exchange treatment, directing the exclusion of abnormal forex losses from operating margins. The AO was instructed to restrict transfer pricing adjustments to specific international transactions. The revenue's appeal was allowed for statistical purposes, with detailed directions provided on each issue. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433452