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Income Tax - Highlights / Catch Notes

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TP Adjustment - when TNMM method has been applied as most ...

Income Tax

January 4, 2021

TP Adjustment - when TNMM method has been applied as most appropriate method it could take care of all notional interest costs wherever it could be applied and there could be no separate upward adjustments on export receivables for belated realization of export bills. Hence, we direct the Assessing Officer to delete upward adjustment made towards overdue receivables from Associated Enterprises. - AT

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