Tribunal Rules Revenue Must Use Accepted Interest Rate for External Borrowings in 2006-07 as in Other Years.

Tribunal Rules Revenue Must Use Accepted Interest Rate for External Borrowings in 2006-07 as in Other Years. https://www.taxtmi.com/highlights?id=56123 TP Adjustment - Arms length price adjustment on account of interest on external commercial borrowings - the rate of interest has been accepted by the Assessing Officer for the years 2002-03 to Assessment Year 2008-09 except the Assessment Year 2006-07. Therefore, the tribunal has rightly held that the revenue cannot be allowed to make a departure in case of rate of interest for Assessment Year 2006-07. - HC en-us Wed, 30 Dec 2020 11:33:32 +0530 Wed, 30 Dec 2020 11:33:32 +0530 TaxTMI RSS Generator Tribunal Rules Revenue Must Use Accepted Interest Rate for External Borrowings in 2006-07 as in Other Years. https://www.taxtmi.com/highlights?id=56123 TP Adjustment - Arms length price adjustment on account of interest on external commercial borrowings - the rate of interest has been accepted by the Assessing Officer for the years 2002-03 to Assessment Year 2008-09 except the Assessment Year 2006-07. Therefore, the tribunal has rightly held that the revenue cannot be allowed to make a departure in case of rate of interest for Assessment Year 2006-07. - HC Highlights Income Tax Wed, 30 Dec 2020 11:33:32 +0530 https://www.taxtmi.com/highlights?id=56123