https://www.taxtmi.com/caselaws?id=291443 The ITAT allowed the appeal of the assessee regarding the addition of interest receivable from Associate Enterprises (AEs) beyond 180 days. The ITAT directed the Assessing Officer to re-examine the issue considering the assessee's uniform policy of not charging or paying interest on overdue export payments and delayed import payments. The AO was instructed to apply the same criteria for credit periods in both receivable and payable transactions with AEs, allowing for netting off of interest payable and receivable, and making adjustments accordingly. The matter was remanded to the AO for further examination based on the modified directions. en-us Fri, 24 Jun 2016 00:00:00 +0530 Wed, 11 Nov 2020 11:47:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291443 The ITAT allowed the appeal of the assessee regarding the addition of interest receivable from Associate Enterprises (AEs) beyond 180 days. The ITAT directed the Assessing Officer to re-examine the issue considering the assessee's uniform policy of not charging or paying interest on overdue export payments and delayed import payments. The AO was instructed to apply the same criteria for credit periods in both receivable and payable transactions with AEs, allowing for netting off of interest payable and receivable, and making adjustments accordingly. The matter was remanded to the AO for further examination based on the modified directions. Case-Laws Income Tax Fri, 24 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291443