https://www.taxtmi.com/caselaws?id=286919 ITAT MUMBAI (AT) allowed most grounds for the assessee. LIBOR was held an acceptable arm's-length interest rate and no fee for a letter of comfort was chargeable as an international transaction; sales-promotion TP adjustment was deleted for lack of reliable US comparables; interest disallowances on advances were partly deleted or directed to be recomputed; interest on returned share-application money and carpet replacement expenditure were accepted; foreign-exchange difference on deposits treated as non-monetary and deletion upheld; s.14A relief granted by accepting 10% exempt-income disallowance; notional interest on certain deposits was remanded to AO for verification. en-us Fri, 06 Sep 2019 00:00:00 +0530 Fri, 22 Aug 2025 22:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286919 ITAT MUMBAI (AT) allowed most grounds for the assessee. LIBOR was held an acceptable arm's-length interest rate and no fee for a letter of comfort was chargeable as an international transaction; sales-promotion TP adjustment was deleted for lack of reliable US comparables; interest disallowances on advances were partly deleted or directed to be recomputed; interest on returned share-application money and carpet replacement expenditure were accepted; foreign-exchange difference on deposits treated as non-monetary and deletion upheld; s.14A relief granted by accepting 10% exempt-income disallowance; notional interest on certain deposits was remanded to AO for verification. Case-Laws Income Tax Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286919