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    Income Tax

    TP Adjustment - Working capital adjustment was denied to the...

    Assessee denied working capital adjustment; must receive interest compensation on overdue debts as separate transaction per CIT(A).

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    Income TaxOctober 8, 2020Case LawsAT

    TP Adjustment - Working capital adjustment was denied to the assessee in absence of any reliable data provided by the assessee. - outstanding debtors beyond an agreed period is a separate international transaction of providing funds to its associated enterprise for which the assessee must have been compensated in the form of interest at LIBOR + 300 BPS as held by CIT (A) . - AT

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