https://www.taxtmi.com/caselaws?id=768072 The ITAT Delhi excluded three companies (Wipro Limited, Infosys Ltd., and Tata Elexi Limited) from comparable selection for transfer pricing adjustment, following precedents from Delhi HC. Regarding interest on outstanding receivables, the tribunal found insufficient evidence from the assessee who failed to provide balance sheets or financial statements. The matter was remanded to AO/TPO to examine industry practices and mutual agreements between parties for payment terms. The tribunal considered LIBOR plus 425 basis points excessive for interest rate determination and directed computation based on agreed payment terms and industry averages. en-us Wed, 26 Mar 2025 00:00:00 +0530 Mon, 31 Mar 2025 08:41:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768072 The ITAT Delhi excluded three companies (Wipro Limited, Infosys Ltd., and Tata Elexi Limited) from comparable selection for transfer pricing adjustment, following precedents from Delhi HC. Regarding interest on outstanding receivables, the tribunal found insufficient evidence from the assessee who failed to provide balance sheets or financial statements. The matter was remanded to AO/TPO to examine industry practices and mutual agreements between parties for payment terms. The tribunal considered LIBOR plus 425 basis points excessive for interest rate determination and directed computation based on agreed payment terms and industry averages. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768072