https://www.taxtmi.com/caselaws?id=441231 The Tribunal remanded the case to the Assessing Officer for de-novo consideration on Transfer Pricing adjustments and disallowance of mark-up on fixed assets, emphasizing the need for a comprehensive review of all relevant evidence and invoices for the Financial Year 2011-12. The Tribunal also directed a fresh decision on the rejection of rectification application, application of Transactional Net Margin Method (TNMM), initiation of penalty proceedings under section 271(l)(c) of the Act, and charging of interest under sections 234B and 234C to ensure procedural fairness and substantial justice. en-us Mon, 13 Mar 2023 00:00:00 +0530 Fri, 04 Aug 2023 07:49:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441231 The Tribunal remanded the case to the Assessing Officer for de-novo consideration on Transfer Pricing adjustments and disallowance of mark-up on fixed assets, emphasizing the need for a comprehensive review of all relevant evidence and invoices for the Financial Year 2011-12. The Tribunal also directed a fresh decision on the rejection of rectification application, application of Transactional Net Margin Method (TNMM), initiation of penalty proceedings under section 271(l)(c) of the Act, and charging of interest under sections 234B and 234C to ensure procedural fairness and substantial justice. Case-Laws Income Tax Mon, 13 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441231