https://www.taxtmi.com/caselaws?id=801377 Accepted books of account and reconciliation of project costs with regular books support allowance of contingency expenditure absent evidence that the expenditure was inflated, fictitious, or generated unaccounted cash; internal SOP breaches and isolated failure to respond to verification notices alone do not establish such defects. No disallowance under section 14A read with Rule 8D arises where no exempt Chapter III income is earned; joint-venture profit is governed by section 86. A royalty transfer-pricing adjustment requires use of a prescribed method and proper benchmarking, with joint-venture agreements, support services, and relevant revenue appropriately considered in determining arm's-length pricing. en-us Thu, 10 Sep 2026 00:00:00 +0530 Wed, 21 Oct 2026 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801377 Accepted books of account and reconciliation of project costs with regular books support allowance of contingency expenditure absent evidence that the expenditure was inflated, fictitious, or generated unaccounted cash; internal SOP breaches and isolated failure to respond to verification notices alone do not establish such defects. No disallowance under section 14A read with Rule 8D arises where no exempt Chapter III income is earned; joint-venture profit is governed by section 86. A royalty transfer-pricing adjustment requires use of a prescribed method and proper benchmarking, with joint-venture agreements, support services, and relevant revenue appropriately considered in determining arm's-length pricing. Case-Laws Income Tax Thu, 10 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801377