ACIT, NEW DELHI vs. M/S. GILLETTE DIVERSIFIED PVT. LTD., MUMBAI
In the result the appeal of the department stands dismissed
ITA 5736/DEL/2015[2010-11]Status: DisposedITAT Delhi23 Aug 2018AY 2010-11
Bench: Shri Pramod Kumar & Shri Sudhanshu Srivastava
For Appellant: Shri Pradip Dinodia, AdvFor Respondent: Shri Sanjay Kumar Yadav, Sr. DR
Section 115JSection 143(3)
….10 Further reliance was also placed on the following judicial precedents wherein a credit period of 180 days has been accepted by the courts: -DCIT vs. M/s Indo American Jewellery Limited- ITA NO. 5872 (MUM.) OF 2009 -Lintas India P. Ltd vs. ACIT [2013] 152 TTJ 706 (Mum) -Mastek Ltd. vs. ACIT (ITA No.3120/Ahd/2010) -Bausch & Lomb Eye Care (I) Pvt Ltd v ACIT - Order dated May 23, 2014 in ITA /3861/Del/ 2010 , ITAT Delhi 3.11 The Ld. AR submitted that even if interest on overdue receivables is treated as international transaction, standard credit period of 180 days, as against 30 days taken by TPO, be…