Tribunal Rules ECB Loan Term as Five Years, Allowing Assessee's Claimed Interest Rate Despite Revenue's Four-Year Assertion.

Tribunal Rules ECB Loan Term as Five Years, Allowing Assessee's Claimed Interest Rate Despite Revenue's Four-Year Assertion. https://www.taxtmi.com/highlights?id=75868 TP Adjustment - Interest on External Commercial Borrowing (ECB) - The Tribunal found that the term of the ECB loan was indeed five years, not four years as asserted by the Revenue authorities. Considering past acceptance of similar interest rates by the TPO, the Tribunal ruled in favor of the assessee, allowing the interest payment on ECBs at the claimed rate. en-us Wed, 20 Mar 2024 09:18:46 +0530 Wed, 20 Mar 2024 09:18:46 +0530 TaxTMI RSS Generator Tribunal Rules ECB Loan Term as Five Years, Allowing Assessee's Claimed Interest Rate Despite Revenue's Four-Year Assertion. https://www.taxtmi.com/highlights?id=75868 TP Adjustment - Interest on External Commercial Borrowing (ECB) - The Tribunal found that the term of the ECB loan was indeed five years, not four years as asserted by the Revenue authorities. Considering past acceptance of similar interest rates by the TPO, the Tribunal ruled in favor of the assessee, allowing the interest payment on ECBs at the claimed rate. Highlights Income Tax Wed, 20 Mar 2024 09:18:46 +0530 https://www.taxtmi.com/highlights?id=75868