https://www.taxtmi.com/caselaws?id=311898 The ITAT Mumbai ruled on multiple transfer pricing and tax issues for the assessee. For transfer pricing adjustments, the tribunal applied CUP method using simple arithmetic mean of comparable transactions and allowed 40% adjustment on marketing and research costs while granting +/-5% benefit under Section 92C(2). The tribunal allowed depreciation on NSE membership cards at 25%, permitted club membership fees as deductible, and deleted disallowances under Section 40A(2) for remuneration and interest-free deposits. Other allowances included overseas support services, lease rentals, and transaction charges to stock exchanges. The tribunal restricted Section 14A disallowance to Rs.1,00,000 and remanded one 14A issue for re-examination. The weighted average methodology for computing arithmetic mean was rejected in favor of simple average. en-us Fri, 30 Jun 2023 00:00:00 +0530 Fri, 19 Jan 2024 20:19:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311898 The ITAT Mumbai ruled on multiple transfer pricing and tax issues for the assessee. For transfer pricing adjustments, the tribunal applied CUP method using simple arithmetic mean of comparable transactions and allowed 40% adjustment on marketing and research costs while granting +/-5% benefit under Section 92C(2). The tribunal allowed depreciation on NSE membership cards at 25%, permitted club membership fees as deductible, and deleted disallowances under Section 40A(2) for remuneration and interest-free deposits. Other allowances included overseas support services, lease rentals, and transaction charges to stock exchanges. The tribunal restricted Section 14A disallowance to Rs.1,00,000 and remanded one 14A issue for re-examination. The weighted average methodology for computing arithmetic mean was rejected in favor of simple average. Case-Laws Income Tax Fri, 30 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311898