https://www.taxtmi.com/caselaws?id=310443 ITAT Pune dismissed Revenue's appeal regarding working capital adjustment in transfer pricing matter. TPO had proposed adjustment which AO adopted under sections 143(3) read with 144C(4). Assessee argued it provided services to associates at lower prices and required working capital adjustment when customers paid later while assessee operated on cash basis. CIT(A) allowed working capital adjustment relying on precedents including Vedaris Technologies and OECD Guidelines. ITAT upheld CIT(A)'s decision directing AO to grant working capital adjustment based on average credit/debit period and commercial interest rates, finding no merit in Revenue's grounds. en-us Tue, 10 Nov 2015 00:00:00 +0530 Thu, 26 Oct 2023 07:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310443 ITAT Pune dismissed Revenue's appeal regarding working capital adjustment in transfer pricing matter. TPO had proposed adjustment which AO adopted under sections 143(3) read with 144C(4). Assessee argued it provided services to associates at lower prices and required working capital adjustment when customers paid later while assessee operated on cash basis. CIT(A) allowed working capital adjustment relying on precedents including Vedaris Technologies and OECD Guidelines. ITAT upheld CIT(A)'s decision directing AO to grant working capital adjustment based on average credit/debit period and commercial interest rates, finding no merit in Revenue's grounds. Case-Laws Income Tax Tue, 10 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310443