https://www.taxtmi.com/caselaws?id=434645 The Tribunal upheld the CIT(A)'s decision to delete the upward adjustment of notional interest on outstanding receivables made by the Revenue. The Tribunal found that interest should not be charged for outstanding periods less than 180 days, contrary to the Revenue's argument based on a 335-day delay. The Tribunal supported the CIT(A)'s decision, emphasizing adherence to RBI policies on credit periods and dismissing the Revenue's appeal. en-us Fri, 14 Oct 2022 00:00:00 +0530 Wed, 01 Mar 2023 08:18:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434645 The Tribunal upheld the CIT(A)'s decision to delete the upward adjustment of notional interest on outstanding receivables made by the Revenue. The Tribunal found that interest should not be charged for outstanding periods less than 180 days, contrary to the Revenue's argument based on a 335-day delay. The Tribunal supported the CIT(A)'s decision, emphasizing adherence to RBI policies on credit periods and dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 14 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434645