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Case Law Details

Case Name : M/s. Logix Micro Systems Ltd. Vs. Asst. Commissioner of Income-tax (ITAT Bangalore)
Related Assessment Year : 2004- 05
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The fact that the international transactions are at ALP does not mean that no addition can be made on the funds kept by the assessee with the AE. If the assessee had received funds within the normal period, it could have earned interest on the same. The potential loss is a factor to be considered while evaluating the financial impact of the international transactions between the assessee and the AE. However, a reasonable period has to be provided as interest-free period;

IN THE INCOME TAX APPELLATE TRI

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0 Comments

  1. Madhur says:

    Nicely well written article!!

    will use ur tips also….hope u don mind if i take sum extracts from this article for mah site too!

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