https://www.taxtmi.com/caselaws?id=393427 Notional interest adjustment on overdue receivables was unsustainable because, following the co-ordinate bench ruling in the assessee's own case, the assessee being a debt-free entity, no notional interest could be imputed; the adjustment was deleted. Addition for mismatch between Form 26AS and tax credit/revenue was held legally erroneous as s.68 is inapplicable to such reconciliation differences, and the AO failed to comply with DRP directions to add only the net difference after verification; the issue was remanded to the AO/TPO to examine reconciliation and delete any addition if reconciled. For TP comparables, entities functionally dissimilar to an ITES service provider were directed to be excluded; the matter was to be recomputed accordingly. Disallowance of car lease rentals u/s 40(a)(ia) was remanded to apply the second proviso retrospectively, subject to evidence that payees offered the receipts to tax. en-us Fri, 17 Jan 2020 00:00:00 +0530 Fri, 09 Jan 2026 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393427 Notional interest adjustment on overdue receivables was unsustainable because, following the co-ordinate bench ruling in the assessee's own case, the assessee being a debt-free entity, no notional interest could be imputed; the adjustment was deleted. Addition for mismatch between Form 26AS and tax credit/revenue was held legally erroneous as s.68 is inapplicable to such reconciliation differences, and the AO failed to comply with DRP directions to add only the net difference after verification; the issue was remanded to the AO/TPO to examine reconciliation and delete any addition if reconciled. For TP comparables, entities functionally dissimilar to an ITES service provider were directed to be excluded; the matter was to be recomputed accordingly. Disallowance of car lease rentals u/s 40(a)(ia) was remanded to apply the second proviso retrospectively, subject to evidence that payees offered the receipts to tax. Case-Laws Income Tax Fri, 17 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393427