https://www.taxtmi.com/caselaws?id=446950 ITAT Mumbai allowed the assessee's appeal regarding transfer pricing adjustment on Global Corporate Client Management Fees, directing TPO to delete the adjustment as no prescribed method under Section 92(1) was followed, making it adhoc. The tribunal remanded issues of travelling expenses disallowance (20% for alleged duplication) and miscellaneous expenses disallowance (20% for capital nature) back to AO for fresh examination with proper verification of supporting documents. TDS credit issue was also restored to AO for verification. en-us Wed, 29 Nov 2023 00:00:00 +0530 Fri, 15 Dec 2023 08:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446950 ITAT Mumbai allowed the assessee's appeal regarding transfer pricing adjustment on Global Corporate Client Management Fees, directing TPO to delete the adjustment as no prescribed method under Section 92(1) was followed, making it adhoc. The tribunal remanded issues of travelling expenses disallowance (20% for alleged duplication) and miscellaneous expenses disallowance (20% for capital nature) back to AO for fresh examination with proper verification of supporting documents. TDS credit issue was also restored to AO for verification. Case-Laws Income Tax Wed, 29 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446950