https://www.taxtmi.com/caselaws?id=306781 The Tribunal partially allowed the appeal, remanding various issues back to the AO for further verification and proper adjudication. The Transfer Pricing Adjustment was directed to be recalculated using the Comparable Uncontrolled Price method. The Disallowance of Foreign Exchange Loss was to be verified for business deduction eligibility. The Addition of Sundry Creditors was deleted based on legal precedent. The Disallowance of Legal and Professional Fees was subject to verification of additional evidence. The Disallowance of Interest and Depreciation were remanded for further examination. The Tribunal directed the grant of Set Off of Business Losses and TDS Credit, while issues regarding Interest under Section 234B and Penalty Proceedings were deemed premature for adjudication. en-us Thu, 10 Sep 2020 00:00:00 +0530 Fri, 24 Feb 2023 09:04:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306781 The Tribunal partially allowed the appeal, remanding various issues back to the AO for further verification and proper adjudication. The Transfer Pricing Adjustment was directed to be recalculated using the Comparable Uncontrolled Price method. The Disallowance of Foreign Exchange Loss was to be verified for business deduction eligibility. The Addition of Sundry Creditors was deleted based on legal precedent. The Disallowance of Legal and Professional Fees was subject to verification of additional evidence. The Disallowance of Interest and Depreciation were remanded for further examination. The Tribunal directed the grant of Set Off of Business Losses and TDS Credit, while issues regarding Interest under Section 234B and Penalty Proceedings were deemed premature for adjudication. Case-Laws Income Tax Thu, 10 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306781