https://www.taxtmi.com/caselaws?id=258097 HC held for the assessee that the arm's-length interest rate must reflect the market rate for the currency in which the loan is denominated and repaid; where the loan was in US$, the relevant comparable are dollar-denominated rates, not domestic PLR or rupee rates. ITAT's finding that 4% p.a. charged by the taxpayer to its associated enterprise was arm's length was upheld and the assessment adjustment to 12.20% was unwarranted. The court endorsed a currency-specific approach to determine interest in transfer pricing. en-us Fri, 27 Mar 2015 00:00:00 +0530 Wed, 05 Aug 2026 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258097 HC held for the assessee that the arm's-length interest rate must reflect the market rate for the currency in which the loan is denominated and repaid; where the loan was in US$, the relevant comparable are dollar-denominated rates, not domestic PLR or rupee rates. ITAT's finding that 4% p.a. charged by the taxpayer to its associated enterprise was arm's length was upheld and the assessment adjustment to 12.20% was unwarranted. The court endorsed a currency-specific approach to determine interest in transfer pricing. Case-Laws Income Tax Fri, 27 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258097