https://www.taxtmi.com/caselaws?id=254624 The Tribunal ruled in favor of the assessee in a case involving cross-appeals against an assessment order for the A.Y. 2009-10. The dispute centered on the arm's length interest rate on a loan advanced to an associated enterprise in the UK and adjustment for delayed realization of sales. The Tribunal held that the interest charged was at arm's length, supported by the use of LIBOR for benchmarking. It found the interest rate reasonable, leading to the deletion of the addition made by the Assessing Officer. Additionally, it concluded that no adjustment for notional interest on outstanding export proceeds was warranted, resulting in a favorable outcome for the assessee. en-us Wed, 10 Dec 2014 00:00:00 +0530 Wed, 05 Aug 2026 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254624 The Tribunal ruled in favor of the assessee in a case involving cross-appeals against an assessment order for the A.Y. 2009-10. The dispute centered on the arm's length interest rate on a loan advanced to an associated enterprise in the UK and adjustment for delayed realization of sales. The Tribunal held that the interest charged was at arm's length, supported by the use of LIBOR for benchmarking. It found the interest rate reasonable, leading to the deletion of the addition made by the Assessing Officer. Additionally, it concluded that no adjustment for notional interest on outstanding export proceeds was warranted, resulting in a favorable outcome for the assessee. Case-Laws Income Tax Wed, 10 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254624