https://www.taxtmi.com/caselaws?id=444234 The Tribunal upheld the Transfer Pricing Officer's decision to treat outstanding receivables as international transactions and benchmark them using SBI short-term deposit rates. The Tribunal rejected the assessee's arguments on comparison of payables and receivables, consistent practice of not charging interest, and adoption of LIBOR-based rates. The appeal was dismissed, affirming the TPO's application of the SBI short-term deposit rate as appropriate for determining the arm's length price of interest on delayed receivables. en-us Tue, 29 Aug 2023 00:00:00 +0530 Thu, 12 Oct 2023 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444234 The Tribunal upheld the Transfer Pricing Officer's decision to treat outstanding receivables as international transactions and benchmark them using SBI short-term deposit rates. The Tribunal rejected the assessee's arguments on comparison of payables and receivables, consistent practice of not charging interest, and adoption of LIBOR-based rates. The appeal was dismissed, affirming the TPO's application of the SBI short-term deposit rate as appropriate for determining the arm's length price of interest on delayed receivables. Case-Laws Income Tax Tue, 29 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444234