https://www.taxtmi.com/caselaws?id=352314 The court upheld the ITAT's decisions in favor of the assessee, dismissing the department's appeals and allowing the assessee's appeal and cross-objection. It affirmed the ITAT's deletion of certain additions, granting benefits under Section 92B for international transactions. The court ruled that adjustments for notional interest income and guarantee charges were correctly deleted, emphasizing the proper application of the law. Additionally, it held that the adjustment for interest-free loans should be based on the prevailing LIBOR rate without an additional 2% ad hoc adjustment, ultimately ruling in favor of the assessee. en-us Fri, 13 Oct 2017 00:00:00 +0530 Wed, 01 Apr 2026 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352314 The court upheld the ITAT's decisions in favor of the assessee, dismissing the department's appeals and allowing the assessee's appeal and cross-objection. It affirmed the ITAT's deletion of certain additions, granting benefits under Section 92B for international transactions. The court ruled that adjustments for notional interest income and guarantee charges were correctly deleted, emphasizing the proper application of the law. Additionally, it held that the adjustment for interest-free loans should be based on the prevailing LIBOR rate without an additional 2% ad hoc adjustment, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 13 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352314