https://www.taxtmi.com/caselaws?id=777732 ITAT, Chennai (AT) upheld the CIT(A)'s rejection of upward TP adjustments for the captive manufacturing unit and for management support services, dismissing Revenue's appeals. The Tribunal remitted the computation of additional depreciation to the AO for correct calculation and directed verification and recomputation of disallowance under section 14A r.w. Rule 8D(2)(iii). It allowed the claim under section 32AC, holding drawings qualify as "plant," and permitted simultaneous claims under sections 32 and 32AC. The Tribunal also admitted and remitted the assessee's claim for additional depreciation under section 32(1)(iia) for fresh consideration by the AO. en-us Wed, 13 Aug 2025 00:00:00 +0530 Thu, 04 Sep 2025 08:40:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777732 ITAT, Chennai (AT) upheld the CIT(A)'s rejection of upward TP adjustments for the captive manufacturing unit and for management support services, dismissing Revenue's appeals. The Tribunal remitted the computation of additional depreciation to the AO for correct calculation and directed verification and recomputation of disallowance under section 14A r.w. Rule 8D(2)(iii). It allowed the claim under section 32AC, holding drawings qualify as "plant," and permitted simultaneous claims under sections 32 and 32AC. The Tribunal also admitted and remitted the assessee's claim for additional depreciation under section 32(1)(iia) for fresh consideration by the AO. Case-Laws Income Tax Wed, 13 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777732