Separate adjustment on outstanding receivables unjustified when working capital adjustment is factored in pricing

Brandix Apparel India Private Limited Vs ACIT (ITAT Visakhapatnam) ITAT Visakhapatnam has held that if working capital adjustment on ALP has been already factored in pricing/ profitability vis-à-vis that of its comparables, then, no separate upward adjustment on outstanding receivables is required. Facts- The assessee is engaged in the provision of processing services in relation to manufacture of garments to the Brandix Group of companies. The case of the assessee was selected for scrutiny and the matter was referred to TPO as the assessee had entered into an international transactions with...