https://www.taxtmi.com/caselaws?id=352199 The Tribunal upheld the validity of the assessment order under the I.T. Act. It accepted the adjustment of income by the Transfer Pricing Officer but revised the amount. The Tribunal found that the interest rate on a foreign currency loan was incorrectly determined, directing the deletion of the addition. The issue of interest on export proceeds receivable was sent back to the Assessing Officer for further review. Previous decisions by the ITAT and High Court favored the assessee, leading to the conclusion that no additional adjustments were warranted for the current assessment year. The appeal was partly allowed, with specific directions given. en-us Mon, 04 Dec 2017 00:00:00 +0530 Sat, 09 Dec 2017 08:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352199 The Tribunal upheld the validity of the assessment order under the I.T. Act. It accepted the adjustment of income by the Transfer Pricing Officer but revised the amount. The Tribunal found that the interest rate on a foreign currency loan was incorrectly determined, directing the deletion of the addition. The issue of interest on export proceeds receivable was sent back to the Assessing Officer for further review. Previous decisions by the ITAT and High Court favored the assessee, leading to the conclusion that no additional adjustments were warranted for the current assessment year. The appeal was partly allowed, with specific directions given. Case-Laws Income Tax Mon, 04 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352199