Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range claim.

Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range claim. https://www.taxtmi.com/highlights?id=104261 Deletion of a negative working-capital adjustment in rectification proceedings required implementation through a consequential appeal-effect order. The Assessing Officer was required to consider whether, after that deletion, the taxpayer's margin fell within the permissible arm's-length range and could reach a contrary conclusion only after giving a reasonable opportunity of hearing. The appeal-effect order was directed to be passed within 15 days, with liberty to seek revival if the consequential order caused grievance. en-us Mon, 28 Sep 2026 08:12:22 +0530 Mon, 28 Sep 2026 08:12:25 +0530 TaxTMI RSS Generator Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range claim. https://www.taxtmi.com/highlights?id=104261 Deletion of a negative working-capital adjustment in rectification proceedings required implementation through a consequential appeal-effect order. The Assessing Officer was required to consider whether, after that deletion, the taxpayer's margin fell within the permissible arm's-length range and could reach a contrary conclusion only after giving a reasonable opportunity of hearing. The appeal-effect order was directed to be passed within 15 days, with liberty to seek revival if the consequential order caused grievance. Highlights Income Tax Mon, 28 Sep 2026 08:12:22 +0530 https://www.taxtmi.com/highlights?id=104261