https://www.taxtmi.com/caselaws?id=768362 The ITAT Delhi ruled in favor of the assessee on multiple grounds. The tribunal found that the AO failed to implement the TPO's rectification order dated February 24, 2023, which revised TP adjustments after rejecting companies with related party transactions. The matter was restored to the AO for proper implementation. Regarding comparable companies, certain entities were deselected as functionally dissimilar. For disallowance of delayed PF/LWF deposits, the tribunal noted the assessee had already disallowed amounts in prior period expenses and filed rectification applications, deciding favorably for verification purposes. en-us Wed, 26 Mar 2025 00:00:00 +0530 Sat, 05 Apr 2025 08:23:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768362 The ITAT Delhi ruled in favor of the assessee on multiple grounds. The tribunal found that the AO failed to implement the TPO's rectification order dated February 24, 2023, which revised TP adjustments after rejecting companies with related party transactions. The matter was restored to the AO for proper implementation. Regarding comparable companies, certain entities were deselected as functionally dissimilar. For disallowance of delayed PF/LWF deposits, the tribunal noted the assessee had already disallowed amounts in prior period expenses and filed rectification applications, deciding favorably for verification purposes. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768362