ITAT Mumbai: Interest Receivables Treated as Loan to AE, TP Adjustment Confirmed

Parle Biscuits Private Limited Vs Assessment Unit (ITAT Mumbai) ITAT Mumbai held that TPO rightly treated interest receivables as a loan outstanding given by assessee to its Associated Enterprises (AE) and charging interest on the same. Facts- The assessee company was established in 1974 in Mumbai and is 100% subsidiary of Parle Products Pvt Ltd. The assessee manufactures wide range of biscuits, confectionary, snacks and bakery products. During the year under consideration, the assessee has entered into various international transactions. TPO made adjustments to interest on accounts receivable...