https://www.taxtmi.com/caselaws?id=448598 The ITAT Mumbai allowed the assessee's appeal for statistical purposes regarding TP adjustment on broking commissions. The tribunal directed the TPO to consider both overseas and domestic clients while applying CUP method, consistent with the assessee's own case for AY 2003-04. The court granted 40% adjustment on marketing and research costs while determining arm's length price. The issue of computing upward adjustment was restored to the AO for verification per TPO's rectification order. Net loss on error trading transactions was allowed as incidental to broking business. The disallowance under section 14A was remanded to AO for fresh examination. en-us Thu, 30 Nov 2023 00:00:00 +0530 Tue, 23 Jan 2024 21:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448598 The ITAT Mumbai allowed the assessee's appeal for statistical purposes regarding TP adjustment on broking commissions. The tribunal directed the TPO to consider both overseas and domestic clients while applying CUP method, consistent with the assessee's own case for AY 2003-04. The court granted 40% adjustment on marketing and research costs while determining arm's length price. The issue of computing upward adjustment was restored to the AO for verification per TPO's rectification order. Net loss on error trading transactions was allowed as incidental to broking business. The disallowance under section 14A was remanded to AO for fresh examination. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448598