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2022 (12) TMI 1070 - AT - Income TaxTP Adjustment - adjustment on account of TP study pertaining to interest on outstanding receivables - TPO returned a finding that the outstanding receivables in the case of the assessee constitute an international transaction which is liable to be benchmarked separately - argument was advanced on behalf of the assessee was that the outstanding receivables arising from intercompany services transactions (included in the definition of ' international transaction' vide Finance Act 2012) was duly benchmarked by the assessee by undertaking working capital adjustment during assessment proceedings and the same is subsumed in the working capital adjustment - HELD THAT:- In view of the sequence of events, it would be noted that the decision of Hon’ble Delhi High Court in the case of Kusum Healthcare [2017 (4) TMI 1254 - DELHI HIGH COURT] is still the binding precedent on the issue of interest on outstanding receivables. Needless to mention that the law laid down by the Hon’ble High Court in the case of Kusum Healthcare was followed by the ITAT in case of Global Logic India Ltd.[2021 (11) TMI 1090 - ITAT DELHI], [2020 (6) TMI 712 - ITAT DELHI], [2020 (9) TMI 572 - ITAT DELHI] and [2017 (12) TMI 1052 - ITAT DELHI] Hence, keeping in view, the established position, we hereby deleted the addition made by the Assessing Officer. Appeals of the assessee are allowed
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