ITAT explains Transfer pricing implications for interest free loan

Motherson Sumi Infotech & Designs Ltd. Vs DCIT (ITAT Delhi) We find that the next issue raised is against the transfer pricing adjustment made on account of interest due on receivables outstanding. The said issue stands covered in favour of the assessee by the decision of the Tribunal in M/s. Global Logic India Ltd. for Assessment Year 2010-11 in ITA No.1104/Del/2015 and for Assessment Year 2012-13 in ITA No.11 15/Del/2017 vide order dated 12.12.20 17. The Tribunal has relied on the decision of Hon’ble Delhi High Court in Pr. CIT-V vs Kusum Health Care Pvt. Ltd. in ITA No.765/2016, j...