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

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