https://www.taxtmi.com/caselaws?id=274669 The Tribunal partially allowed the appeal by the assessee, directing the deletion of the addition made by the Assessing Officer concerning the determination of Arms Length Price (ALP) of interest charged from the Associated Enterprise. The judgment emphasized the relevance of market-determined interest rates for foreign currency transactions and upheld the LIBOR rate as an Arms Length rate in this case. The Tribunal rejected the application of the State Bank of India Prime Lending Rate as a benchmark for comparing interest rates on foreign currency loans, supporting the assessee's argument. en-us Fri, 31 Jul 2015 00:00:00 +0530 Tue, 28 Aug 2018 10:50:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274669 The Tribunal partially allowed the appeal by the assessee, directing the deletion of the addition made by the Assessing Officer concerning the determination of Arms Length Price (ALP) of interest charged from the Associated Enterprise. The judgment emphasized the relevance of market-determined interest rates for foreign currency transactions and upheld the LIBOR rate as an Arms Length rate in this case. The Tribunal rejected the application of the State Bank of India Prime Lending Rate as a benchmark for comparing interest rates on foreign currency loans, supporting the assessee's argument. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274669