https://www.taxtmi.com/caselaws?id=763276 ITAT Mumbai set aside transfer pricing adjustment on royalty and service fee payments, following its own precedent decisions. The tribunal granted working capital adjustment for software support services and removed Axis Integrated Systems Limited from comparables based on prior rulings. Revenue recognition adjustment for sales and marketing support services was deleted, following Delhi HC precedent that advance receipts cannot be taxed until services are rendered. Interest charges under sections 234A and 234C were also deleted as advance tax was paid within statutory timelines. en-us Mon, 09 Sep 2024 00:00:00 +0530 Mon, 16 Dec 2024 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763276 ITAT Mumbai set aside transfer pricing adjustment on royalty and service fee payments, following its own precedent decisions. The tribunal granted working capital adjustment for software support services and removed Axis Integrated Systems Limited from comparables based on prior rulings. Revenue recognition adjustment for sales and marketing support services was deleted, following Delhi HC precedent that advance receipts cannot be taxed until services are rendered. Interest charges under sections 234A and 234C were also deleted as advance tax was paid within statutory timelines. Case-Laws Income Tax Mon, 09 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763276