Court Upholds Transfer Pricing Officer's Decision on Interest Rates in $7M Loan Agreement as Genuine Despite Appeal.

Court Upholds Transfer Pricing Officer's Decision on Interest Rates in $7M Loan Agreement as Genuine Despite Appeal. https://www.taxtmi.com/highlights?id=59992 TP Adjustment - Addition of interest expenses - These clauses in the loan agreement are nothing but eye-wash as the appellant company is the holding company of the borrower and have sanctioned loan for unsecured junior debt loan upto US$ 7 million. - considering the fact that the assessee itself has charged interest @ 8% in the case of UUL and 6.138% in the case of UBV, we do not find any error or infirmity in the transfer pricing approach of the TPO upheld by the DRP. - AT en-us Thu, 07 Oct 2021 09:15:28 +0530 Thu, 07 Oct 2021 09:15:28 +0530 TaxTMI RSS Generator Court Upholds Transfer Pricing Officer's Decision on Interest Rates in $7M Loan Agreement as Genuine Despite Appeal. https://www.taxtmi.com/highlights?id=59992 TP Adjustment - Addition of interest expenses - These clauses in the loan agreement are nothing but eye-wash as the appellant company is the holding company of the borrower and have sanctioned loan for unsecured junior debt loan upto US$ 7 million. - considering the fact that the assessee itself has charged interest @ 8% in the case of UUL and 6.138% in the case of UBV, we do not find any error or infirmity in the transfer pricing approach of the TPO upheld by the DRP. - AT Highlights Income Tax Thu, 07 Oct 2021 09:15:28 +0530 https://www.taxtmi.com/highlights?id=59992