https://www.taxtmi.com/caselaws?id=769127 The ITAT Delhi held that issuance of Standby Letter of Credit (SBLC) by assessee to Associated Enterprise constitutes international transaction subject to Arm's Length Principle testing. The tribunal applied 0.5% rate instead of 1.3% for ALP determination, favoring the assessee. Regarding Section 80G deduction for donation to FCS Foundation, the tribunal restored the matter to AO for fresh inquiry due to disputed receipt date and insufficient evidence from both parties regarding the trust's accounting of the donation. en-us Thu, 17 Apr 2025 00:00:00 +0530 Fri, 18 Apr 2025 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769127 The ITAT Delhi held that issuance of Standby Letter of Credit (SBLC) by assessee to Associated Enterprise constitutes international transaction subject to Arm's Length Principle testing. The tribunal applied 0.5% rate instead of 1.3% for ALP determination, favoring the assessee. Regarding Section 80G deduction for donation to FCS Foundation, the tribunal restored the matter to AO for fresh inquiry due to disputed receipt date and insufficient evidence from both parties regarding the trust's accounting of the donation. Case-Laws Income Tax Thu, 17 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769127