https://www.taxtmi.com/caselaws?id=450703 Section 14A read with Rule 8D requires the Assessing Officer to first record dissatisfaction with the assessee's claim after examining the accounts before applying the prescribed method. A feasibility study for exploring a new business line was treated as connected with business diversification rather than routine expansion, with apportionment to the relevant segment. Letters of comfort and support issued to banks for overseas subsidiaries were analysed as transactions affecting assets or obligations and therefore within transfer pricing rules, with a rate aligned to corporate guarantee benchmarks. The note also addresses weighted deduction under section 35(2AB), damaged stock, additional depreciation, trip scheme expenditure, royalty waiver, CSR spend, and sundry balances written off. en-us Fri, 01 Mar 2024 00:00:00 +0530 Mon, 02 Dec 2024 16:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450703 Section 14A read with Rule 8D requires the Assessing Officer to first record dissatisfaction with the assessee's claim after examining the accounts before applying the prescribed method. A feasibility study for exploring a new business line was treated as connected with business diversification rather than routine expansion, with apportionment to the relevant segment. Letters of comfort and support issued to banks for overseas subsidiaries were analysed as transactions affecting assets or obligations and therefore within transfer pricing rules, with a rate aligned to corporate guarantee benchmarks. The note also addresses weighted deduction under section 35(2AB), damaged stock, additional depreciation, trip scheme expenditure, royalty waiver, CSR spend, and sundry balances written off. Case-Laws Income Tax Fri, 01 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450703