AO Cannot Make Adjustments when Assessee Extended Credit Period to Non-AE  Without Charging Interest on Delayed Payment: ITAT grants Relief to Tech Mahindra [Read Order]

By Ipsita Das - On July 16, 2023 7:30 am - 2 mins read
AO - Adjustments - Assessee - Extended - Credits - Period - Non- AE - Charging - Interest - Delayed - Payment - ITAT - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that the AO(Assessing Officer) /TPO(Transfer Pricing Officer)  is not required to make the adjustment on notional basis when the assessee Extended Credit Period to Non-AE (Associated Enterprise) without charging interest on delayed payment The assessee company M/s. Tech Mahindra Ltd filed miscellaneous application on the…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader