https://www.taxtmi.com/caselaws?id=456428 The Tribunal ruled in favor of the assessee, directing the deletion of transfer pricing adjustments totaling Rs 4,16,58,367, following the Finance Act, 2017's omission of clause (1) of section 92BA. The assessment order's validity was challenged, leading to the deletion of specific additions related to goods, office rent, and directors' remuneration. The Tribunal also addressed the expenditure allowance under Section 40A(2) of the Income Tax Act, 1961, directing the Assessing Officer to reassess the allowability of the expenditure. The decision was grounded in legal interpretations and precedents, ensuring a fair resolution for the assessee. en-us Tue, 27 Sep 2022 00:00:00 +0530 Wed, 24 Jul 2024 21:19:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456428 The Tribunal ruled in favor of the assessee, directing the deletion of transfer pricing adjustments totaling Rs 4,16,58,367, following the Finance Act, 2017's omission of clause (1) of section 92BA. The assessment order's validity was challenged, leading to the deletion of specific additions related to goods, office rent, and directors' remuneration. The Tribunal also addressed the expenditure allowance under Section 40A(2) of the Income Tax Act, 1961, directing the Assessing Officer to reassess the allowability of the expenditure. The decision was grounded in legal interpretations and precedents, ensuring a fair resolution for the assessee. Case-Laws Income Tax Tue, 27 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456428