https://www.taxtmi.com/caselaws?id=311129 The Tribunal partially allowed the appeal against the final assessment order for AY 2014-15, setting aside the transfer pricing adjustment of Rs.5,23,79,628 made under Section 92BA (1) of the Income Tax Act, 1961, following its omission by the Finance Act, 2017. The Tribunal directed the Assessing Officer to re-examine the allowability of the expenditure under Section 40A (2), emphasizing that the omission of Section 92BA (1) did not eliminate the requirement to assess expenses under Section 40A (2). Grounds 18 to 22 were dismissed as they were not argued. en-us Wed, 13 Jul 2022 00:00:00 +0530 Sat, 09 Dec 2023 08:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311129 The Tribunal partially allowed the appeal against the final assessment order for AY 2014-15, setting aside the transfer pricing adjustment of Rs.5,23,79,628 made under Section 92BA (1) of the Income Tax Act, 1961, following its omission by the Finance Act, 2017. The Tribunal directed the Assessing Officer to re-examine the allowability of the expenditure under Section 40A (2), emphasizing that the omission of Section 92BA (1) did not eliminate the requirement to assess expenses under Section 40A (2). Grounds 18 to 22 were dismissed as they were not argued. Case-Laws Income Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311129