{"id":36413,"date":"2023-08-29T13:10:35","date_gmt":"2023-08-29T07:40:35","guid":{"rendered":"https:\/\/itatonline.org\/digest\/altisource-business-solutions-pvt-ltd-v-ito-2022-99-itr-647-bang-trib-2\/"},"modified":"2023-08-29T13:10:35","modified_gmt":"2023-08-29T07:40:35","slug":"altisource-business-solutions-pvt-ltd-v-ito-2022-99-itr-647-bang-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/altisource-business-solutions-pvt-ltd-v-ito-2022-99-itr-647-bang-trib-2\/","title":{"rendered":"Altisource Business Solutions Pvt. Ltd. v. ITO (2022) 99 ITR 647 (Bang) (Trib)"},"content":{"rendered":"<p>Held that functionally dissimilar, huge turnover and a giant company, extrodinary events companies are to be\u00a0\u00a0 excluded from final list of\u00a0 comparable companies.\u00a0 Deferred trade receivables constitute International Transaction.\u00a0 Rate of\u00a0 Libor at\u00a0 six months + 400 basis points adopted by TPO was without any basis. Interest computation if at all should be based on the delay of individual invoices, which has not been done. The prime lending rate should not be considered and this reasoning will apply to adopting short-term deposit interest rate offered by the State Bank of India also. The rate of interest would be on the basis of the currency in which the loan was to be repaid. The issue with regard to determination of the arm\u2019s length price in respect of the international transaction of giving extended credit period for receivables was to be examined afresh by the Assessing Officer\/Transfer Pricing Officer on the guidelines laid down in the decision in\u00a0Tech Books International (P.) Ltd. v. Dy. CIT (2015) 63 taxmann.com 114 (Delhi) (Trib.), after affording the assessee opportunity of being heard. <em>(<\/em>AY.2014-15)<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing-Arm\u2019s length price-Comparables-Functionally dissimilar-Huge turnover and a giant company-Extrodinary  events-Excluded from final list of  comparable companies-Deferred trade receivables constitute International Transaction-Rate of  Libor at  six months + 400 basis points adopted by TPO was without any basis-Matter remanded. [S.92CA]  <\/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-36413","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9tj","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36413","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=36413"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36413\/revisions"}],"predecessor-version":[{"id":36414,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36413\/revisions\/36414"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=36413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=36413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}