https://www.taxtmi.com/caselaws?id=310246 Transfer pricing adjustment on standby letter of credit charges was restricted to the unrecovered portion of the bank commission borne by the assessee for the associated enterprise. The appellate authority found that the bank had levied commission for issuing the standby letter of credit, that only part of that cost was recovered from the associated enterprise, and that the balance remained an expense of the assessee. No adjustment was warranted for amounts directly charged by the bank to the associated enterprise or for amounts already recovered. The challenge to deletion beyond the unrecovered amount failed, and the restriction of the adjustment was upheld. en-us Mon, 03 Feb 2020 00:00:00 +0530 Fri, 13 Oct 2023 21:25:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310246 Transfer pricing adjustment on standby letter of credit charges was restricted to the unrecovered portion of the bank commission borne by the assessee for the associated enterprise. The appellate authority found that the bank had levied commission for issuing the standby letter of credit, that only part of that cost was recovered from the associated enterprise, and that the balance remained an expense of the assessee. No adjustment was warranted for amounts directly charged by the bank to the associated enterprise or for amounts already recovered. The challenge to deletion beyond the unrecovered amount failed, and the restriction of the adjustment was upheld. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310246