https://www.taxtmi.com/caselaws?id=778304 ITAT MUMBAI - AT directed the TPO/AO to compute interest on outstanding receivables at LIBOR + 0.65% for the year under consideration, rejecting application of an earlier Basis Point and the CIT(A)'s LIBOR + 0.5%. The transfer-pricing adjustment for interest on share-application money was found without merit and deleted. Disallowance under section 14A read with Rule 8D was held unsustainable since no exempt dividend income was earned and the 2022 Finance Act amendment is prospective. Depreciation on major overhauling capitalised to plant and machinery was allowed at the applicable rate of 15%. en-us Thu, 11 Sep 2025 00:00:00 +0530 Sat, 13 Sep 2025 08:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778304 ITAT MUMBAI - AT directed the TPO/AO to compute interest on outstanding receivables at LIBOR + 0.65% for the year under consideration, rejecting application of an earlier Basis Point and the CIT(A)'s LIBOR + 0.5%. The transfer-pricing adjustment for interest on share-application money was found without merit and deleted. Disallowance under section 14A read with Rule 8D was held unsustainable since no exempt dividend income was earned and the 2022 Finance Act amendment is prospective. Depreciation on major overhauling capitalised to plant and machinery was allowed at the applicable rate of 15%. Case-Laws Income Tax Thu, 11 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778304