https://www.taxtmi.com/caselaws?id=310282 The Tribunal ruled in favor of the assessee, an Indo-Russian Joint Venture company, on all three contested issues for the assessment year 2013-14. It remanded the transfer pricing adjustment issue back to the AO/TPO for reassessment, recognizing the transactions as composite. On liquidated damages, the Tribunal sided with the assessee, excluding them from direct expenses. Lastly, it directed the AO to allow deductions for employees' contributions to PF and ESI, provided they were remitted before the income tax return filing due date, overturning the initial disallowance. en-us Wed, 01 Aug 2018 00:00:00 +0530 Mon, 16 Oct 2023 18:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310282 The Tribunal ruled in favor of the assessee, an Indo-Russian Joint Venture company, on all three contested issues for the assessment year 2013-14. It remanded the transfer pricing adjustment issue back to the AO/TPO for reassessment, recognizing the transactions as composite. On liquidated damages, the Tribunal sided with the assessee, excluding them from direct expenses. Lastly, it directed the AO to allow deductions for employees' contributions to PF and ESI, provided they were remitted before the income tax return filing due date, overturning the initial disallowance. Case-Laws Income Tax Wed, 01 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310282