Impact Of Delayed Receivables From AE Already Factored In Working-Capital: Allahabad HC Directs TPO To Adjudicate Interest On Receivables

The Allahabad High Court recently reiterated that once working capital adjustment is granted to assessee, there is no need for further imputation of interest on outstanding receivables at the end of the year, as the same gets subsumed in working capital adjustment. The Division Bench comprising Justice Shekhar B. Saraf and Justice Manjive Shukla reiterated that “In respect...