https://www.taxtmi.com/caselaws?id=306752 The Tribunal partly allowed the appeal, remanding specific issues for fresh consideration. The Tribunal directed the Transfer Pricing Officer to gather information on capacity utilization from comparable companies for unabsorbed cost adjustment. Foreign currency losses were upheld as operating costs following precedent. Duty credits written off were allowed as a business expenditure. Admission fees for an employee's child were considered personal expenditure. The disallowance of irrecoverable insurance claims was remanded for verification. The Tribunal ensured the assessee's opportunity to present evidence for a fair reassessment of the disputed matters. en-us Mon, 06 Sep 2021 00:00:00 +0530 Thu, 23 Feb 2023 02:54:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306752 The Tribunal partly allowed the appeal, remanding specific issues for fresh consideration. The Tribunal directed the Transfer Pricing Officer to gather information on capacity utilization from comparable companies for unabsorbed cost adjustment. Foreign currency losses were upheld as operating costs following precedent. Duty credits written off were allowed as a business expenditure. Admission fees for an employee's child were considered personal expenditure. The disallowance of irrecoverable insurance claims was remanded for verification. The Tribunal ensured the assessee's opportunity to present evidence for a fair reassessment of the disputed matters. Case-Laws Income Tax Mon, 06 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306752