This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
If commercial transaction is at ALP, no transfer pricing addition for non-charging of interest on overdue debt can be made
Case Law Details
- Case Name
- Nimbus Communications Limited Vs. Assistant Commissioner of Income Tax (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2004- 05
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI J BENCH, MUMBAI
ITA No. 6597/Mum/09
Assessment year: 2004- 05
Nimbus Communications Limited
Vs.
Assistant Commissioner of Income Tax
O R D E R
Per Pramod Kumar:
1. The short issue that we are required to adjudicate in this appeal is whether the Commissioner (Appeals) was justified in sustaining an arm’s length price (ALP) adjustment in respect of interest not charged by the assessee on debit balances, overdue beyond thirty days, of assessee’s associated enterprises. The assessment year involved in 2004-05.
2. The issue in appeal lies in a rather ...
