{"id":13993,"date":"2020-11-23T12:41:21","date_gmt":"2020-11-23T12:41:21","guid":{"rendered":"https:\/\/itatonline.org\/digest\/lotus-labs-p-ltd-v-dy-cit-202079-itr-295-bang-trib-2\/"},"modified":"2020-11-23T12:41:21","modified_gmt":"2020-11-23T12:41:21","slug":"lotus-labs-p-ltd-v-dy-cit-202079-itr-295-bang-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/lotus-labs-p-ltd-v-dy-cit-202079-itr-295-bang-trib-2\/","title":{"rendered":"Lotus Labs P. Ltd. v. Dy. CIT (2020)79 ITR 295 (Bang) (Trib)"},"content":{"rendered":"<p>Tribunal held that the outstanding sums under invoices are akin to loans advanced by the assessee to the foreign associated enterprise, and an international transaction according to the Explanation to section\u00a092B\u00a0. The Transfer Pricing Officer was directed to study the impact of the receivables appearing in the accounts of the assessee, looking into why they were shown as receivables and also as to whether the transactions could be characterised as international transactions. \u00a0Tribunal also directed the the Assessing Officer to verify and consider the claim of the assessee for credit amounting to Rs. 2,61,461 of tax deducted at source based upon the documents filed in accordance with law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing \u2013 Arm\u2019s length price \u2014 Outstanding sum of invoices akin to loan advanced- Credit of tax deduction at source \u2013 Matter remanded .[ S.92B(2) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13993","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3DH","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13993"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13993\/revisions"}],"predecessor-version":[{"id":13994,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13993\/revisions\/13994"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}