https://www.taxtmi.com/caselaws?id=402532 The Tribunal partly allowed the assessee's appeal by directing the use of LIBOR + 200 basis points for imputing interest on delayed receivables and allowing a standard credit period. The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s deletion of disallowance under Section 14A due to the absence of exempt income. The judgment emphasizes the importance of appropriate benchmarking in TP adjustments and adherence to judicial precedents in disallowance cases under Section 14A. en-us Mon, 28 Dec 2020 00:00:00 +0530 Tue, 05 Jan 2021 11:07:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402532 The Tribunal partly allowed the assessee's appeal by directing the use of LIBOR + 200 basis points for imputing interest on delayed receivables and allowing a standard credit period. The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s deletion of disallowance under Section 14A due to the absence of exempt income. The judgment emphasizes the importance of appropriate benchmarking in TP adjustments and adherence to judicial precedents in disallowance cases under Section 14A. Case-Laws Income Tax Mon, 28 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402532