https://www.taxtmi.com/caselaws?id=759651 ITAT Hyderabad allowed the assessee's appeal regarding adhoc disallowances on employee training and printing expenses. The tribunal noted that DRP failed to consider the assessee's cost-plus profit model and corresponding revenue increase. The matter was restored to AO for fresh consideration. The tribunal directed AO to follow DRP's instruction to consider returned income instead of processed income under section 143(1). For TDS credit claims, AO was directed to examine as per law. Regarding transfer pricing adjustment on interest receivables, the tribunal applied Libor +200 rate based on its previous decision in the assessee's case. en-us Mon, 30 Sep 2024 00:00:00 +0530 Sat, 05 Oct 2024 08:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759651 ITAT Hyderabad allowed the assessee's appeal regarding adhoc disallowances on employee training and printing expenses. The tribunal noted that DRP failed to consider the assessee's cost-plus profit model and corresponding revenue increase. The matter was restored to AO for fresh consideration. The tribunal directed AO to follow DRP's instruction to consider returned income instead of processed income under section 143(1). For TDS credit claims, AO was directed to examine as per law. Regarding transfer pricing adjustment on interest receivables, the tribunal applied Libor +200 rate based on its previous decision in the assessee's case. Case-Laws Income Tax Mon, 30 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759651