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No separate notional interest adjustment when working capital adjustment made under TNMM
Case Law Details
- Case Name
- ACIT Vs Intas Pharmaceuticals Ltd (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Ahmedabad
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ACIT Vs Intas Pharmaceuticals Ltd (ITAT Ahmedabad)
ITAT Ahmedabad held that upward adjustment on account of notional interest on outstanding receivables rightly deleted since TNMM has been applied and working capital adjustment has been given while benchmarking the main international transaction.
Facts- The present appeal has been filed by the revenue. It is mainly contested the deletion of upward adjustment of Rs.1,27,16,929/- made by the TPO/A0 by applying LIBOR with a different markup and further addition of 100 basis points towards alleged forex risk adjustment in respect of loans advan...
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