2024 (9) TMI 27

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....he Respondent : Gaurav Mahajan ORDER 1. Heard Sri Shashwat Bajpai, learned counsel appearing on behalf of appellant and Sri Gaurav Mahajan, learned counsel appearing on behalf of Respondent. 2. The instant appeals under Section 260A of the Income Tax Act, 1961 arise from an order dated 26.07.2023 passed by the Income Tax Appellate Tribunal, Delhi Bench for the A.Y.s 2011-12 & 2012-13. ....

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....ted to the assessee, there is no need for further imputation of notional interest on outstanding receivables at the end of the year as the same gets subsumed in the working capital adjustment? D. Whether the Ld. Tribunal erred in not appreciating that the Appellant- Assessee has maintained complete uniformity and has not charged any interest from both relates and unrelated party and hence....

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....see, there is no need for further imputation of interest on outstanding receivables at the end of the year as the same gets subsumed in the working capital adjustment. After agreeing with this proposition, the Tribunal has directed the TPO to once again look into the bills submitted by the appellant and directed TPO to ascertain whether interest is to be imputed on bills that have been realised af....

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.... whether the same has been realized within the credit period allowed of 70 days. If not, interest is to be imputed on those bills also. (b) In respect of outstanding bills as on 01.04.2010 (i.e., opening balance) from these AEs, what was the date of realization thereof and if the bills are realized beyond the granted credit period of 70 days, interest is to be imputed on those bills also.....