https://www.taxtmi.com/caselaws?id=335013 The Tribunal allowed the appeal, rejecting reclassification by the TPO and DRP and determining the interest rate. It emphasized respecting the transaction's true nature, applying appropriate comparables and rates. The AO was directed to verify disallowance computation under section 14A with Rule 8D and make necessary adjustments. Penalty proceedings under section 271(1)(c) were deemed premature. en-us Thu, 30 Jun 2016 00:00:00 +0530 Mon, 21 Nov 2016 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335013 The Tribunal allowed the appeal, rejecting reclassification by the TPO and DRP and determining the interest rate. It emphasized respecting the transaction's true nature, applying appropriate comparables and rates. The AO was directed to verify disallowance computation under section 14A with Rule 8D and make necessary adjustments. Penalty proceedings under section 271(1)(c) were deemed premature. Case-Laws Income Tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335013