https://www.taxtmi.com/caselaws?id=764748 The ITAT Delhi ruled on multiple issues in favor of the assessee for statistical purposes. The tribunal directed the AO/TPO to include Magma Advisory Services Ltd. in the list of transfer pricing comparables. Regarding depreciation on computer software, the AO was directed to comply with DRP directions to verify software details and determine appropriate depreciation rates for intangible assets. For disallowance under section 40(a)(ia) concerning international travel expenses, the tribunal directed the AO to verify the assessee's claim that taxes were properly deducted and deposited, and take necessary action accordingly. en-us Wed, 15 Jan 2025 00:00:00 +0530 Fri, 17 Jan 2025 08:45:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764748 The ITAT Delhi ruled on multiple issues in favor of the assessee for statistical purposes. The tribunal directed the AO/TPO to include Magma Advisory Services Ltd. in the list of transfer pricing comparables. Regarding depreciation on computer software, the AO was directed to comply with DRP directions to verify software details and determine appropriate depreciation rates for intangible assets. For disallowance under section 40(a)(ia) concerning international travel expenses, the tribunal directed the AO to verify the assessee's claim that taxes were properly deducted and deposited, and take necessary action accordingly. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764748