https://www.taxtmi.com/caselaws?id=314206 ITAT Hyderabad partly allowed the appeal regarding transfer pricing adjustments. The tribunal restricted corporate guarantee fee addition to 0.5% of guaranteed amount, relying on assessee's own precedent. For trade receivables, 6% notional interest was directed on amounts outstanding beyond 60 days. Weighted deduction under section 35(2)(AB) was allowed for clinical trial expenses incurred outside approved R&D facilities after obtaining Form 3CL approval. However, the ground on head office expense allocation based on net sales versus export sales was dismissed due to lack of supporting documentation and insufficient evidence before authorities. en-us Wed, 21 Jun 2023 00:00:00 +0530 Fri, 24 May 2024 08:28:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314206 ITAT Hyderabad partly allowed the appeal regarding transfer pricing adjustments. The tribunal restricted corporate guarantee fee addition to 0.5% of guaranteed amount, relying on assessee's own precedent. For trade receivables, 6% notional interest was directed on amounts outstanding beyond 60 days. Weighted deduction under section 35(2)(AB) was allowed for clinical trial expenses incurred outside approved R&D facilities after obtaining Form 3CL approval. However, the ground on head office expense allocation based on net sales versus export sales was dismissed due to lack of supporting documentation and insufficient evidence before authorities. Case-Laws Income Tax Wed, 21 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314206