https://www.taxtmi.com/caselaws?id=304219 The case involved a dispute regarding transfer pricing adjustment on interest on receivables from Associated Enterprises (AEs). The Dispute Resolution Panel (DRP) upheld the separate benchmarking of interest on receivables outstanding beyond 60 days, citing the retrospective effect of an Explanation in Section 92B of the Income Tax Act. The Tribunal ruled in favor of the assessee, stating that working capital adjustment subsumes interest on receivables, and no separate benchmarking is required. The Tribunal directed the Assessing Officer to grant the credit of Tax Deducted at Source (TDS) as per law, partially allowing the appeal and dismissing the stay application filed by the assessee. en-us Tue, 28 Sep 2021 00:00:00 +0530 Tue, 13 Sep 2022 20:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304219 The case involved a dispute regarding transfer pricing adjustment on interest on receivables from Associated Enterprises (AEs). The Dispute Resolution Panel (DRP) upheld the separate benchmarking of interest on receivables outstanding beyond 60 days, citing the retrospective effect of an Explanation in Section 92B of the Income Tax Act. The Tribunal ruled in favor of the assessee, stating that working capital adjustment subsumes interest on receivables, and no separate benchmarking is required. The Tribunal directed the Assessing Officer to grant the credit of Tax Deducted at Source (TDS) as per law, partially allowing the appeal and dismissing the stay application filed by the assessee. Case-Laws Income Tax Tue, 28 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304219