https://www.taxtmi.com/caselaws?id=306493 The Tribunal determined that the arm's-length interest rate for the assessee's advances to its associated enterprises abroad should be calculated at LIBOR + 300 basis points for both assessment years. The decision highlighted the significance of commercial expediency and rationality in setting interest rates, aligning with past legal precedents. As a result, the assessee's appeal was partially allowed, while the revenue's appeal was rejected, solidifying the established interest rates for the transactions in question. en-us Fri, 07 Jun 2019 00:00:00 +0530 Fri, 03 Feb 2023 21:13:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306493 The Tribunal determined that the arm's-length interest rate for the assessee's advances to its associated enterprises abroad should be calculated at LIBOR + 300 basis points for both assessment years. The decision highlighted the significance of commercial expediency and rationality in setting interest rates, aligning with past legal precedents. As a result, the assessee's appeal was partially allowed, while the revenue's appeal was rejected, solidifying the established interest rates for the transactions in question. Case-Laws Income Tax Fri, 07 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306493