https://www.taxtmi.com/caselaws?id=447478 The ITAT Visakhapatnam held that the assessee's 13% interest rate on unsecured NCDs was at arm's length. The TPO incorrectly selected comparables with secured debentures and companies outside the solar power sector. The tribunal found that when proper filters for unsecured instruments and relevant sector companies were applied, the 65th percentile rate was 14.25%, exceeding the assessee's rate. Following precedents from ITAT Surat and Bangalore, the tribunal concluded the interest rate was appropriate given the higher risk of unsecured debt, allowing the assessee's grounds. en-us Fri, 22 Dec 2023 00:00:00 +0530 Tue, 26 Dec 2023 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447478 The ITAT Visakhapatnam held that the assessee's 13% interest rate on unsecured NCDs was at arm's length. The TPO incorrectly selected comparables with secured debentures and companies outside the solar power sector. The tribunal found that when proper filters for unsecured instruments and relevant sector companies were applied, the 65th percentile rate was 14.25%, exceeding the assessee's rate. Following precedents from ITAT Surat and Bangalore, the tribunal concluded the interest rate was appropriate given the higher risk of unsecured debt, allowing the assessee's grounds. Case-Laws Income Tax Fri, 22 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447478