https://www.taxtmi.com/caselaws?id=436165 The delay in cross objections by the assessee was condoned due to the Covid-19 pandemic. The Tribunal upheld the deletion of Transfer Pricing adjustments related to a Contractor Agreement with ONGC. Inclusion of Agricultural Finance Corporation Ltd. as a comparable entity was upheld, while exclusion of Office Care Services Ltd. and Vatika Marketing Ltd. was upheld. The notional foreign exchange loss was not considered for taxation purposes. Adjustments on reimbursement and recovery of expenses were deleted. The Revenue's appeal was dismissed, and the cross objections of the assessee were partly allowed. en-us Tue, 28 Mar 2023 00:00:00 +0530 Thu, 06 Apr 2023 08:25:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436165 The delay in cross objections by the assessee was condoned due to the Covid-19 pandemic. The Tribunal upheld the deletion of Transfer Pricing adjustments related to a Contractor Agreement with ONGC. Inclusion of Agricultural Finance Corporation Ltd. as a comparable entity was upheld, while exclusion of Office Care Services Ltd. and Vatika Marketing Ltd. was upheld. The notional foreign exchange loss was not considered for taxation purposes. Adjustments on reimbursement and recovery of expenses were deleted. The Revenue's appeal was dismissed, and the cross objections of the assessee were partly allowed. Case-Laws Income Tax Tue, 28 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436165