https://www.taxtmi.com/caselaws?id=403919 The ITAT Delhi ruled in favor of the assessee, overturning the AO's adjustment of interest receivable on sales/services transactions using the prime lending rate. The decision was grounded in the working capital-adjusted margin and the absence of interest charges on overdue debts. The issue of applying the LIBOR rate was deemed insignificant to the final outcome. en-us Wed, 11 Nov 2020 00:00:00 +0530 Tue, 29 Oct 2024 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403919 The ITAT Delhi ruled in favor of the assessee, overturning the AO's adjustment of interest receivable on sales/services transactions using the prime lending rate. The decision was grounded in the working capital-adjusted margin and the absence of interest charges on overdue debts. The issue of applying the LIBOR rate was deemed insignificant to the final outcome. Case-Laws Income Tax Wed, 11 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403919