https://www.taxtmi.com/caselaws?id=311487 ITAT Bangalore remanded transfer pricing issues back to TPO for fresh analysis of business model and arm's length pricing verification. Court held that interest rates should be market-based in relevant currency, directing TPO to use LIBOR instead of Indian PLR for computing interest on delayed payments. TDS credit issues were remanded to AO for verification. Court allowed 60% depreciation on NMS CG/TX cards as computer equipment and confirmed Section 10A deduction eligibility for mobile content development services, following Karnataka HC precedent in OnMobile Global Ltd case. en-us Fri, 29 Apr 2022 00:00:00 +0530 Thu, 28 Dec 2023 20:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311487 ITAT Bangalore remanded transfer pricing issues back to TPO for fresh analysis of business model and arm's length pricing verification. Court held that interest rates should be market-based in relevant currency, directing TPO to use LIBOR instead of Indian PLR for computing interest on delayed payments. TDS credit issues were remanded to AO for verification. Court allowed 60% depreciation on NMS CG/TX cards as computer equipment and confirmed Section 10A deduction eligibility for mobile content development services, following Karnataka HC precedent in OnMobile Global Ltd case. Case-Laws Income Tax Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311487