https://www.taxtmi.com/highlights?id=105208 Contingency expenses reflected in CTC reports could not be disallowed where they matched the regular books, the books were not rejected, and no evidence showed inflation or fictitious claims; deletion was sustained under the rule of consistency. No disallowance of expenditure relating to exempt income was sustainable because no income exempt under Chapter III was earned; deletion under section 14A read with Rule 8D was sustained. The royalty transfer-pricing adjustment was unsustainable because no prescribed method or proper benchmarking had been applied and relevant joint-venture and support-service documents were not properly considered; deletion was sustained. The Revenue's appeal was dismissed, while the cross-objection was infructuous. en-us Wed, 21 Oct 2026 08:37:56 +0530 Wed, 21 Oct 2026 08:37:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105208 Contingency expenses reflected in CTC reports could not be disallowed where they matched the regular books, the books were not rejected, and no evidence showed inflation or fictitious claims; deletion was sustained under the rule of consistency. No disallowance of expenditure relating to exempt income was sustainable because no income exempt under Chapter III was earned; deletion under section 14A read with Rule 8D was sustained. The royalty transfer-pricing adjustment was unsustainable because no prescribed method or proper benchmarking had been applied and relevant joint-venture and support-service documents were not properly considered; deletion was sustained. The Revenue's appeal was dismissed, while the cross-objection was infructuous. Highlights Income Tax Wed, 21 Oct 2026 08:37:56 +0530 https://www.taxtmi.com/highlights?id=105208