https://www.taxtmi.com/caselaws?id=758111 ITAT Bangalore dismissed the assessee's appeal regarding custom duty adjustment in manufacturing segment, noting the assessee admitted no such adjustment was allowed in previous years and stopped claiming it from AY 2016-17. The tribunal rejected base cost adjustment claims for similar reasons. However, ITAT remitted several issues to TPO for fresh consideration including proportionate adjustment based on consistency principle from AY 2013-14, applicability of TNMM vs RPM method for trading segment, and working capital adjustment claims where assessee failed to provide analytical data. The tribunal allowed payments to headquarters for services received from associated enterprises, rejecting revenue's argument about benefit demonstration. Warranty provision disallowance was restored to TPO for examination of subsequent year reversals. en-us Fri, 30 Aug 2024 00:00:00 +0530 Thu, 05 Sep 2024 10:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758111 ITAT Bangalore dismissed the assessee's appeal regarding custom duty adjustment in manufacturing segment, noting the assessee admitted no such adjustment was allowed in previous years and stopped claiming it from AY 2016-17. The tribunal rejected base cost adjustment claims for similar reasons. However, ITAT remitted several issues to TPO for fresh consideration including proportionate adjustment based on consistency principle from AY 2013-14, applicability of TNMM vs RPM method for trading segment, and working capital adjustment claims where assessee failed to provide analytical data. The tribunal allowed payments to headquarters for services received from associated enterprises, rejecting revenue's argument about benefit demonstration. Warranty provision disallowance was restored to TPO for examination of subsequent year reversals. Case-Laws Income Tax Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758111