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ITAT Clarifies: Working Capital Adjustment May Nullify Interest Addition
Case Law Details
- Case Name
- Schneider Electric IT Business India Private Ltd. Vs DCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Bangalore
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Schneider Electric IT Business India Private Ltd. Vs DCIT (ITAT Bangalore)
Working Capital Adjustment is Key: TPO Must Justify Denial of WCA- ITAT Says No Separate Interest Addition if WCA Allowed- Comparables Selected by TPO? Then Burden on Revenue
Assessee, a wholly owned subsidiary engaged in manufacture & distribution of power protection equipment, was subjected to TP adjustment on interest for overdue receivables from AEs amounting to Rs.16,61,21,349, computed by TPO as a separate international transaction of capital financing using 6-month LIBOR + 450 bps.
Assessee a...
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