https://www.taxtmi.com/caselaws?id=357762 The Tribunal allowed the assessee's appeal regarding the transfer pricing adjustment on outstanding receivables for software services. It held that notional interest on outstanding receivables cannot be charged as an international transaction. The Tribunal's decision impacted the imposition of interest under sections 234B and 234D of the Act, directing the Assessing Officer to provide any consequential relief to the assessee. Although not specifically discussed, the Tribunal's decision on the transfer pricing adjustment and interest implications would likely influence any penalty determination under section 271(1)(C) of the Act related to the same transaction. en-us Wed, 28 Mar 2018 00:00:00 +0530 Sat, 31 Mar 2018 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357762 The Tribunal allowed the assessee's appeal regarding the transfer pricing adjustment on outstanding receivables for software services. It held that notional interest on outstanding receivables cannot be charged as an international transaction. The Tribunal's decision impacted the imposition of interest under sections 234B and 234D of the Act, directing the Assessing Officer to provide any consequential relief to the assessee. Although not specifically discussed, the Tribunal's decision on the transfer pricing adjustment and interest implications would likely influence any penalty determination under section 271(1)(C) of the Act related to the same transaction. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357762