https://www.taxtmi.com/caselaws?id=763476 A separate transfer pricing adjustment for notional interest on delayed receivables was unwarranted where the taxpayer was debt-free, no comparable interest recovery was shown, and the receivable element was already reflected in working capital adjustment; the addition was deleted. Deduction under section 35DD for the second instalment of amortised amalgamation expenditure was allowed, as the Tribunal could entertain the claim despite the absence of a revised return and the earlier assessment order supported the statutory deduction. Interest under section 234C was held to be chargeable only on returned income, not assessed income. en-us Wed, 18 Dec 2024 00:00:00 +0530 Fri, 20 Dec 2024 08:46:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763476 A separate transfer pricing adjustment for notional interest on delayed receivables was unwarranted where the taxpayer was debt-free, no comparable interest recovery was shown, and the receivable element was already reflected in working capital adjustment; the addition was deleted. Deduction under section 35DD for the second instalment of amortised amalgamation expenditure was allowed, as the Tribunal could entertain the claim despite the absence of a revised return and the earlier assessment order supported the statutory deduction. Interest under section 234C was held to be chargeable only on returned income, not assessed income. Case-Laws Income Tax Wed, 18 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763476