https://www.taxtmi.com/caselaws?id=431803 The tribunal allowed the appeal of the assessee, holding that the adjustment on interest on receivables was not justified. It was emphasized that outstanding balances do not constitute independent international transactions warranting an arms-length price adjustment. The tribunal considered the company's debt-free status and concluded that further adjustment on outstanding receivables was unwarranted if working capital impact had already been factored into pricing and profitability. Consequently, the charging of interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act was deemed consequential, and the appeal was allowed. en-us Mon, 11 Apr 2022 00:00:00 +0530 Wed, 20 May 2026 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431803 The tribunal allowed the appeal of the assessee, holding that the adjustment on interest on receivables was not justified. It was emphasized that outstanding balances do not constitute independent international transactions warranting an arms-length price adjustment. The tribunal considered the company's debt-free status and concluded that further adjustment on outstanding receivables was unwarranted if working capital impact had already been factored into pricing and profitability. Consequently, the charging of interest under sections 234A, 234B, 234C, and 234D of the Income Tax Act was deemed consequential, and the appeal was allowed. Case-Laws Income Tax Mon, 11 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431803