https://www.taxtmi.com/caselaws?id=768474 ITAT Hyderabad held that for benchmarking outstanding receivables from associated enterprises in foreign currency transactions, LIBOR rate should be applied rather than domestic PLR or SBI short-term deposit rates. Following precedents from Shiva Industries and Tata Autocomp Systems cases, the tribunal determined that international transactions require international benchmarks like LIBOR or EURIBOR, not domestic rates. Since the assessee charged 6% interest against LIBOR rate of 4.42%, no transfer pricing adjustment was warranted as the rate exceeded arm's length pricing requirements. en-us Thu, 06 Mar 2025 00:00:00 +0530 Tue, 08 Apr 2025 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768474 ITAT Hyderabad held that for benchmarking outstanding receivables from associated enterprises in foreign currency transactions, LIBOR rate should be applied rather than domestic PLR or SBI short-term deposit rates. Following precedents from Shiva Industries and Tata Autocomp Systems cases, the tribunal determined that international transactions require international benchmarks like LIBOR or EURIBOR, not domestic rates. Since the assessee charged 6% interest against LIBOR rate of 4.42%, no transfer pricing adjustment was warranted as the rate exceeded arm's length pricing requirements. Case-Laws Income Tax Thu, 06 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768474