https://www.taxtmi.com/caselaws?id=429777 The tribunal partially allowed the appeal by directing the deletion of the transfer pricing adjustment made by the TPO/AO. The grounds related to the timeliness of the assessment order and separate benchmarking of outstanding receivables were dismissed. The tribunal found that the outstanding receivables were linked to main transactions already at arm's length, and thus no separate adjustment was warranted. The tribunal also rejected the adoption of a specific interest rate for outstanding receivables, citing that it would distort the transaction. The order was pronounced on 02/11/2022. en-us Wed, 02 Nov 2022 00:00:00 +0530 Thu, 03 Nov 2022 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429777 The tribunal partially allowed the appeal by directing the deletion of the transfer pricing adjustment made by the TPO/AO. The grounds related to the timeliness of the assessment order and separate benchmarking of outstanding receivables were dismissed. The tribunal found that the outstanding receivables were linked to main transactions already at arm's length, and thus no separate adjustment was warranted. The tribunal also rejected the adoption of a specific interest rate for outstanding receivables, citing that it would distort the transaction. The order was pronounced on 02/11/2022. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429777