https://www.taxtmi.com/caselaws?id=774107 ITAT Ahmedabad allowed the assessee's appeal on transfer pricing adjustments. The tribunal held that demurrage charges of Rs. 2.57 crores constituted extraordinary costs and should be treated as non-operating in nature, following Transwitch India precedent. The exponential increase from previous years' charges of Rs. 1.5-4.05 lakhs supported this classification. Regarding outstanding receivables, the tribunal ruled no notional interest could be charged on Rs. 10.91 crores receivables from transactions with local parties on behalf of associated enterprises, citing M/s Inductis India precedent and noting the debt-free status of the assessee company. en-us Fri, 20 Jun 2025 00:00:00 +0530 Thu, 03 Jul 2025 08:34:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774107 ITAT Ahmedabad allowed the assessee's appeal on transfer pricing adjustments. The tribunal held that demurrage charges of Rs. 2.57 crores constituted extraordinary costs and should be treated as non-operating in nature, following Transwitch India precedent. The exponential increase from previous years' charges of Rs. 1.5-4.05 lakhs supported this classification. Regarding outstanding receivables, the tribunal ruled no notional interest could be charged on Rs. 10.91 crores receivables from transactions with local parties on behalf of associated enterprises, citing M/s Inductis India precedent and noting the debt-free status of the assessee company. Case-Laws Income Tax Fri, 20 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774107