https://www.taxtmi.com/caselaws?id=435072 The Appellate Tribunal partly allowed the appeal on 21st October 2022. It ruled in favor of the appellant on the Transfer Pricing Adjustment issue, finding the addition unsustainable due to the appellant being a zero-debt entity. The Tribunal directed a re-examination of the disallowance under section 40(a)(i) with proper evidence. Additionally, the Tribunal remanded the Foreign Exchange Loss issue for further consideration, acknowledging the appellant's argument on mitigating foreign exchange risks. The Disallowance u/s 14A was not contested by the appellant, and the Tribunal directed its exclusion while computing Book Profits under section 115JB. en-us Fri, 21 Oct 2022 00:00:00 +0530 Fri, 10 Mar 2023 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435072 The Appellate Tribunal partly allowed the appeal on 21st October 2022. It ruled in favor of the appellant on the Transfer Pricing Adjustment issue, finding the addition unsustainable due to the appellant being a zero-debt entity. The Tribunal directed a re-examination of the disallowance under section 40(a)(i) with proper evidence. Additionally, the Tribunal remanded the Foreign Exchange Loss issue for further consideration, acknowledging the appellant's argument on mitigating foreign exchange risks. The Disallowance u/s 14A was not contested by the appellant, and the Tribunal directed its exclusion while computing Book Profits under section 115JB. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435072