https://www.taxtmi.com/caselaws?id=448022 The Tribunal allowed the appeal of the foreign entity, overturning the transfer pricing adjustment of Rs. 6,63,370/- imposed by the AO for interest on delayed payments from associate enterprises in India. The Tribunal found that the overdue receivables did not breach Indian Transfer Pricing regulations, referencing the Kusum Healthcare case to support that working capital adjustments typically include interest on receivables. Consequently, the AO was directed to reverse the adjustment, rendering it unnecessary. The decision was pronounced on 29.12.2023. en-us Fri, 29 Dec 2023 00:00:00 +0530 Wed, 10 Jan 2024 09:20:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448022 The Tribunal allowed the appeal of the foreign entity, overturning the transfer pricing adjustment of Rs. 6,63,370/- imposed by the AO for interest on delayed payments from associate enterprises in India. The Tribunal found that the overdue receivables did not breach Indian Transfer Pricing regulations, referencing the Kusum Healthcare case to support that working capital adjustments typically include interest on receivables. Consequently, the AO was directed to reverse the adjustment, rendering it unnecessary. The decision was pronounced on 29.12.2023. Case-Laws Income Tax Fri, 29 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448022