No Adjustment of National Interest on Outstanding Receivable to Debt-Free Company: Delhi HC [Read Order]

Notional interest on outstanding receivable to debt free company; Delhi HC.

By Yogitha S. Yogesh - On December 7, 2023 8:00 pm - 2 mins read

Adjustment of National Interest - Outstanding Receivable - Debt-Free Company - Delhi High Court - National Interest - TAXSCAN

The Delhi High Court has held that the assessee was a debt-free company and there was no need to impute notional interest on outstanding receivables. M/ S Inductis India Pvt Ltd, the respondent/assessee being a wholly owned subsidiary of ExlService Mauritius Ltd (which in turn is a subsidiary of ExlServices Holdings Inc. US) was engaged…

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