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TMI Blog2020 (9) TMI 1149X X X X Extracts X X X X X X X X Extracts X X X X ..... receivables TPO has not given any finding on the No.of days delay in receivables. As submitted by the learned AR, the delay was less than 90 days and the industry acceptable period of average is 90 days. The Coordinate Bench of the ITAT in assessee s own case for the A.Y 2013-14 [ 2020 (7) TMI 282 - ITAT HYDERABAD] has taken view that no adjustment is required if the delay is between 90 to 120 days. As respectfully following the view taken by the Coordinate Bench in assessee s own case for the earlier A.Y2013-14 we hold that no adjustment is required and accordingly we, set aside the order of the DRP/AO and delete the addition made by the Assessing officer. - Decided in favour of assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the industry average of 90 to 120 days. He further argued that in the TNMM method, the profit margin of the assessee is more than comparable and it is at ALP. Therefore, argued that no adjustment is required in respect of interest on receivables, and hence requested to delete the addition. The assessee also relied on the decision of this Tribunal in the assessee's own case for the A.Y 2013-14 in ITA No.1909 & 1910/Hyd/2017, dated 9th July, 2020. 2.1 The learned AR further submitted that on identical fats ITAT, Vizag in the case of GVK Power & Infrastructure Ltd reported in 94 Taxmann.com 415 also decided the issue in favour of the assessee with regard to charging interest on receivables. Therefore, requested to set a side the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tional transaction between assessee and its AE, where outstanding is not received within stipulated period. Such is the proposition laid down by Hon'ble Delhi High Court in Pr. CIT-V vs Kusum Health Care Pvt.Ltd. (supra) especially where working capital adjustment has been allowed to assessee. In any case, the credit period of 90 days is less than credit period of 90 to 120 days of comparables and no adjustment is warranted. 12. In such facts and circumstances and following the ratio laid down by the Hon'ble Delhi high Court in Kusum Healthcare Ltd. (supra) and also in line with the findings of the Tribunal in M/s. Global Logic India Ltd.(supra), we find no merit in making any adjustment on account of interest due on receivable fr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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