https://www.taxtmi.com/caselaws?id=446648 The ITAT Hyderabad remanded the matter back to AO/TPO regarding TP adjustment on interest for outstanding receivables from associated enterprises. The tribunal found that DRP did not adequately consider the assessee's submissions on trade receivables and noted the period for furnishing details was too short, violating principles of natural justice. Despite DRP's direction to TPO to grant another opportunity, the tribunal determined insufficient opportunity was provided by lower authorities. The appeal was allowed for statistical purposes, directing fresh proceedings to ensure proper opportunity for the assessee to present its case. en-us Wed, 29 Nov 2023 00:00:00 +0530 Fri, 08 Dec 2023 08:56:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446648 The ITAT Hyderabad remanded the matter back to AO/TPO regarding TP adjustment on interest for outstanding receivables from associated enterprises. The tribunal found that DRP did not adequately consider the assessee's submissions on trade receivables and noted the period for furnishing details was too short, violating principles of natural justice. Despite DRP's direction to TPO to grant another opportunity, the tribunal determined insufficient opportunity was provided by lower authorities. The appeal was allowed for statistical purposes, directing fresh proceedings to ensure proper opportunity for the assessee to present its case. Case-Laws Income Tax Wed, 29 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446648