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2020 (9) TMI 1149 - ITAT HYDERABADTP Adjustment - Addition relating to Arm’s Length Price Adjustment towards interest on receivables from AE’s - Finding on the No.of days delay in receivables - HELD THAT:- The assessee is following the TNMM method and there is no dispute with regard to the method followed by the assessee. TPO has made economic analysis and given a finding that no adjustment is required and the transactions were at ALP. On going through the order of the TPO, though it was stated that there were outstanding trade receivables TPO has not given any finding on the No.of days delay in receivables. As submitted by the learned AR, the delay was less than 90 days and the industry acceptable period of average is 90 days. The Coordinate Bench of the ITAT in assessee’s own case for the A.Y 2013-14 [2020 (7) TMI 282 - ITAT HYDERABAD] has taken view that no adjustment is required if the delay is between 90 to 120 days. As respectfully following the view taken by the Coordinate Bench in assessee’s own case for the earlier A.Y2013-14 we hold that no adjustment is required and accordingly we, set aside the order of the DRP/AO and delete the addition made by the Assessing officer. - Decided in favour of assessee.
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