https://www.taxtmi.com/caselaws?id=308169 The appeal filed by the assessee was allowed for statistical purposes. The disallowance of depreciation on assets given under finance lease was remanded back to the Assessing Officer for verification. The non-allowance of set off of brought forward depreciation loss was directed to be granted by the AO. However, the transfer pricing addition on account of re-characterization of payment made towards administration and support services was dismissed by the Tribunal. The Tribunal emphasized the need for verification by the AO/TPO regarding the expenses incurred by the assessee and the benchmarking requirements under the TNMM for computing the arm's length margin of the international transaction. en-us Thu, 08 Apr 2021 00:00:00 +0530 Mon, 05 Jun 2023 21:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308169 The appeal filed by the assessee was allowed for statistical purposes. The disallowance of depreciation on assets given under finance lease was remanded back to the Assessing Officer for verification. The non-allowance of set off of brought forward depreciation loss was directed to be granted by the AO. However, the transfer pricing addition on account of re-characterization of payment made towards administration and support services was dismissed by the Tribunal. The Tribunal emphasized the need for verification by the AO/TPO regarding the expenses incurred by the assessee and the benchmarking requirements under the TNMM for computing the arm's length margin of the international transaction. Case-Laws Income Tax Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308169