https://www.taxtmi.com/caselaws?id=308715 The Tribunal allowed the appeal in the case concerning the adjustment of interest on outstanding inter-company receivables under the Income Tax Act, 1961. Relying on legal precedents, including High Court rulings and previous Tribunal cases, the Tribunal emphasized the lack of interest charged by associated enterprises on outstanding receivables and payables. The decision highlighted the interconnected nature of these transactions and the appellant's consistent practice of not charging interest. Ultimately, the Tribunal supported the appellant's argument against the adjustment made by the AO, citing the binding precedent set by the High Court's decision in a similar case. en-us Thu, 05 May 2022 00:00:00 +0530 Sat, 15 Jul 2023 07:57:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308715 The Tribunal allowed the appeal in the case concerning the adjustment of interest on outstanding inter-company receivables under the Income Tax Act, 1961. Relying on legal precedents, including High Court rulings and previous Tribunal cases, the Tribunal emphasized the lack of interest charged by associated enterprises on outstanding receivables and payables. The decision highlighted the interconnected nature of these transactions and the appellant's consistent practice of not charging interest. Ultimately, the Tribunal supported the appellant's argument against the adjustment made by the AO, citing the binding precedent set by the High Court's decision in a similar case. Case-Laws Income Tax Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308715