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2015 (12) TMI 33 - ITAT BANGALORETransfer pricing adjustment - selection of comparable externally - Held that:- As the TPO had erred in choosing an external comparable, when there was an internal comparable uncontrolled transaction which the assessee had taken in its TP study. - Decided in favour of assessee Disallowance u/s. 40(a)(i) relating to the payments of “bio-study expenses” - Held that:- DRP correctly deleted the disallowance following the decision of the Hon’ble jurisdictional High Court in the case of De beer India Minerals Pvt. Ltd [2012 (5) TMI 191 - KARNATAKA HIGH COURT] - Decided in favour of assessee Disallowance of employees’ contribution to PF/ESI u/s. 36(1)(va) - Held that:- The provision of section 43B encompasses in its ambit, employee’s contribution too. Therefore, considering the various judicial precedents and going by the intention of the legislature, we respectfully submit that delayed payment of employee’s contribution to ESI fund should be allowed as deduction under section 36(1)(va) of the Act read with section 43B of the Act if the said payments are made on or before the due date for filing the return of Income. See COMMISSIONER OF INCOME-TAX Versus ANZ INFORMATION TECHNOLOGY P. LTD. [2009 (9) TMI 69 - KARNATAKA HIGH COURT ] - Decided in favour of assessee
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