https://www.taxtmi.com/caselaws?id=314018 The ITAT Bangalore remitted the TP adjustment issue regarding notional interest on outstanding receivables to the AO/TPO for fresh consideration, directing that if working capital adjustment subsumes receivables, no separate characterization should be made. For receivables outside WCA, LIBOR + 300 basis points should apply with 90-day credit period. The tribunal directed verification of two comparables for potential inclusion and excluded 11 companies exceeding Rs. 200 crores turnover limit. Three additional comparables were rejected for functional dissimilarity and lack of segmental information. The assessee's appeal was partly allowed. en-us Tue, 18 Jul 2023 00:00:00 +0530 Mon, 13 May 2024 21:31:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314018 The ITAT Bangalore remitted the TP adjustment issue regarding notional interest on outstanding receivables to the AO/TPO for fresh consideration, directing that if working capital adjustment subsumes receivables, no separate characterization should be made. For receivables outside WCA, LIBOR + 300 basis points should apply with 90-day credit period. The tribunal directed verification of two comparables for potential inclusion and excluded 11 companies exceeding Rs. 200 crores turnover limit. Three additional comparables were rejected for functional dissimilarity and lack of segmental information. The assessee's appeal was partly allowed. Case-Laws Income Tax Tue, 18 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314018