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Case Law Details

Case Name : Micro Ink Limited Vs ACIT (ITAT Ahmedabad)
Related Assessment Year : 2006-07
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Brief of the Case

ITAT Ahmedabad held In the case of Micro Ink Limited. Vs. ACIT that such interest is includible in operating income and the operating income itself has been accepted as reasonable under method TNMM, there cannot be an occasion to make adjustment for notional interest on delayed realization of debtors. The very conceptual foundation, for separate adjustment for delayed realization of debtors and on the facts of this case, is thus devoid of legally sustainable merits. An adjustmen

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