Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 939 - AT - Income TaxWorking capital adjustment - adjustment on account of receivables - Held that:- Though in the instant assessment year, the working capital adjustment has already been allowed to the assessee, but in the order of the Ld. TPO, it is not clear at what point of time the receivables, inventory and payables are compared for computing working capital adjustment. Their level should be compared on average throughout the year. Further, it is also not evident from the order of the Ld. TPO what appropriate interest rate has been used for computing working capital adjustment. We feel it appropriate to restore the issue to the matter of the Ld. Assessing Officer/TPO for analysing the working capital adjustment given by the Ld. TPO and decide the issue in the light of the direction given by the Tribunal
|