https://www.taxtmi.com/caselaws?id=441652 ITAT Surat upheld CIT(A)'s order deleting transfer pricing adjustment on FCCD interest payments. The assessee's 15% coupon rate was deemed arm's length based on comparable market rates of 16.95% and proximity to SBI prime lending rate of 14.75%. TPO's reduction to 12.58% was unjustified. Additionally, ITAT confirmed deletion of Section 14A disallowance as assessee had sufficient interest-free funds for exempt income investments, with investments reducing to nil during the year. Revenue's appeals dismissed on both grounds. en-us Thu, 27 Jul 2023 00:00:00 +0530 Mon, 30 Jun 2025 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441652 ITAT Surat upheld CIT(A)'s order deleting transfer pricing adjustment on FCCD interest payments. The assessee's 15% coupon rate was deemed arm's length based on comparable market rates of 16.95% and proximity to SBI prime lending rate of 14.75%. TPO's reduction to 12.58% was unjustified. Additionally, ITAT confirmed deletion of Section 14A disallowance as assessee had sufficient interest-free funds for exempt income investments, with investments reducing to nil during the year. Revenue's appeals dismissed on both grounds. Case-Laws Income Tax Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441652