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M/S. Barco Electronic Systems (P) Ltd., ... vs Dcit, New Delhi on 28 June, 2019 cites

Commissioner Of Income Tax-I vs M/S Cotton Naturals (I) Pvt. Ltd. on 27 March, 2015

• Since AE is not based in India for benchmarking, SBI PLR rate in not a valid comparable. Rates should be as per the prevalent borrowing rates in the other countries, which is LIBOR. • Indian interest rates for the purpose of benchmarking of lending or borrowing does not constitute an appropriate comparable within the meaning of Rule 10B(a)(i) of the Rule. Reliance is placed on the decision by Hon'ble Delhi High Court in case of CIT v. Cotton Naturals India (P) Ltd. v. reported in 276 CTR 445.
Delhi High Court Cites 13 - Cited by 142 - S Khanna - Full Document

Cit vs Ekl Appliances Ltd on 29 March, 2012

In view of the decision of the Hon'ble Delhi High Court in the case of CIT Vs EKL Appliances Ltd (supra), we are of the opinion that impact of the delayed receivables has already been factored in the working capital adjustment and, therefore, any further adjustment on the outstanding receivables is not required separately in the instant case. Accordingly, we direct the Assessing Officer to delete the adjustment made on account of the outstanding receivables. As we have already deleted the addition in question, we are not adjudicating the other arguments of the assessee, as same are rendered only academic. The grounds of the assessee are accordingly allowed.
Delhi High Court Cites 16 - Cited by 352 - R V Easwar - Full Document
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