https://www.taxtmi.com/caselaws?id=411318 The appeal was partly allowed by the Tribunal. The Transfer Pricing Officer was directed to apply only the LIBOR rate for the transfer pricing adjustment on the notional interest, reducing the adjustment amount. The determination of the corporate guarantee fee was upheld at 0.5%, dismissing the Revenue's higher rate argument. The disallowance on alleged non-genuine purchases was partially reduced to 2.5% due to lack of verification of suppliers. The disallowance under Section 14A was reduced after adjustments, partially allowing the assessee's appeal. en-us Fri, 23 Jul 2021 00:00:00 +0530 Mon, 23 Aug 2021 08:40:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411318 The appeal was partly allowed by the Tribunal. The Transfer Pricing Officer was directed to apply only the LIBOR rate for the transfer pricing adjustment on the notional interest, reducing the adjustment amount. The determination of the corporate guarantee fee was upheld at 0.5%, dismissing the Revenue's higher rate argument. The disallowance on alleged non-genuine purchases was partially reduced to 2.5% due to lack of verification of suppliers. The disallowance under Section 14A was reduced after adjustments, partially allowing the assessee's appeal. Case-Laws Income Tax Fri, 23 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411318