https://www.taxtmi.com/caselaws?id=404404 The Tribunal allowed the assessee's appeal, noting that the working capital adjustments already considered the impact of outstanding receivables. It emphasized that further adjustment would distort the financial picture, citing relevant case law. The Tribunal also recognized the assessee as a debt-free company, in line with established precedent, and set aside the AO/TPO's action. As a result, the adjustment of Rs. 51,15,652 to the total income was deleted, and the appeal was allowed on 17.02.2021. en-us Wed, 17 Feb 2021 00:00:00 +0530 Tue, 23 Feb 2021 09:21:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404404 The Tribunal allowed the assessee's appeal, noting that the working capital adjustments already considered the impact of outstanding receivables. It emphasized that further adjustment would distort the financial picture, citing relevant case law. The Tribunal also recognized the assessee as a debt-free company, in line with established precedent, and set aside the AO/TPO's action. As a result, the adjustment of Rs. 51,15,652 to the total income was deleted, and the appeal was allowed on 17.02.2021. Case-Laws Income Tax Wed, 17 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404404