https://www.taxtmi.com/caselaws?id=439035 The Tribunal partially accepted the appellant's objections regarding the enhancement of income due to international transactions not meeting the Arm's Length Price criteria, limiting the transfer pricing adjustment. The Tribunal also directed the Assessing Officer to reconsider the working capital adjustment claim without the need for additional evidence. Regarding the disallowance of sales and promotion expenses under section 40(a)(ia) of the Income Tax Act, the Tribunal allowed the appeal for statistical purposes, instructing the Assessing Officer to verify if recipients had disclosed the receipts in their income tax returns to determine the disallowance. en-us Mon, 12 Jun 2023 00:00:00 +0530 Thu, 15 Jun 2023 08:02:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439035 The Tribunal partially accepted the appellant's objections regarding the enhancement of income due to international transactions not meeting the Arm's Length Price criteria, limiting the transfer pricing adjustment. The Tribunal also directed the Assessing Officer to reconsider the working capital adjustment claim without the need for additional evidence. Regarding the disallowance of sales and promotion expenses under section 40(a)(ia) of the Income Tax Act, the Tribunal allowed the appeal for statistical purposes, instructing the Assessing Officer to verify if recipients had disclosed the receipts in their income tax returns to determine the disallowance. Case-Laws Income Tax Mon, 12 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439035