Working capital adjustment, comparable selection and trade receivables interest were revisited in transfer pricing, with key additions deleted and rem...
Adjustment of a refund against a disputed demand during pendency of statutory remedies was held unsustainable. Following coordinate Bench rulings, the HC quashed the refund adjustment, directed release of the refund with statutory interest, and restrained coercive recovery until the stay application is decided. The Court also requested expeditious disposal of the pending appeal before the CIT(A), and did not examine the merits of the underlying assessment dispute.
Adjustment of a refund against a disputed demand during pendency of statutory remedies was held unsustainable. Following coordinate Bench rulings, the HC quashed the refund adjustment, directed release of the refund with statutory interest, and restrained coercive recovery until the stay application is decided. The Court also requested expeditious disposal of the pending appeal before the CIT(A), and did not examine the merits of the underlying assessment dispute.
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