https://www.taxtmi.com/caselaws?id=754526 The Tribunal considered multiple tax issues, holding that a letter of comfort for an associated enterprise's borrowing did not amount to a corporate guarantee and no transfer pricing adjustment survived. It upheld deduction of ESOP expenditure as employee cost, allowed weighted deduction for eligible clinical trial expenditure and clarified that Form 3CL was not ative for denying relief in the relevant period, and allowed pre-commencement revenue expenditure linked to an existing business extension. It also sustained disallowance of sales promotion expenses. Matters concerning depreciation on unverified purchases and goodwill, section 10AA computation, and mark-to-market loss on certain derivative contracts were remitted for fresh examination or factual verification. en-us Mon, 18 Mar 2024 00:00:00 +0530 Tue, 25 Jun 2024 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754526 The Tribunal considered multiple tax issues, holding that a letter of comfort for an associated enterprise's borrowing did not amount to a corporate guarantee and no transfer pricing adjustment survived. It upheld deduction of ESOP expenditure as employee cost, allowed weighted deduction for eligible clinical trial expenditure and clarified that Form 3CL was not ative for denying relief in the relevant period, and allowed pre-commencement revenue expenditure linked to an existing business extension. It also sustained disallowance of sales promotion expenses. Matters concerning depreciation on unverified purchases and goodwill, section 10AA computation, and mark-to-market loss on certain derivative contracts were remitted for fresh examination or factual verification. Case-Laws Income Tax Mon, 18 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754526