https://www.taxtmi.com/caselaws?id=290854 The Tribunal dismissed the revenue's appeal challenging the deletion of a transfer pricing adjustment related to interest paid on a foreign currency loan. Upholding the DRP's decision, the Tribunal emphasized that interest rates for foreign currency loans should be based on the currency in which the loan is to be repaid, not on the lender or borrower's residence currency. The Tribunal found the TPO's use of the SBI rate for benchmarking inappropriate and concluded that no transfer pricing adjustment could be made on this basis, in line with the Delhi High Court's precedent. en-us Mon, 08 Oct 2018 00:00:00 +0530 Mon, 19 Oct 2020 20:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290854 The Tribunal dismissed the revenue's appeal challenging the deletion of a transfer pricing adjustment related to interest paid on a foreign currency loan. Upholding the DRP's decision, the Tribunal emphasized that interest rates for foreign currency loans should be based on the currency in which the loan is to be repaid, not on the lender or borrower's residence currency. The Tribunal found the TPO's use of the SBI rate for benchmarking inappropriate and concluded that no transfer pricing adjustment could be made on this basis, in line with the Delhi High Court's precedent. Case-Laws Income Tax Mon, 08 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290854