Outstanding Sum of Invoices akin to Loan Advanced by assessee to Foreign AE is an International Transaction, AO can’t make Separate Additions: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore ruled that outstanding sum of invoices is akin to the loan advanced by the assessee to foreign AE, so it is an international transaction as per explanation to Section 92B of the Income Tax Act, 1961 and no separate additions can be made by the Assessing Officer (AO). […]

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