https://www.taxtmi.com/caselaws?id=470761 Interest on loans advanced to overseas associated enterprises is benchmarked at the applicable LIBOR rate without an additional mark-up where jurisdictional precedent and earlier assessment-year orders support that approach; the transfer-pricing adjustment requires recomputation accordingly. Disallowance of expenditure attributable to exempt income is confined to the exempt income actually earned during the relevant year, even where the prescribed computational method produces a higher amount; the disallowance must therefore be restricted and recomputed. en-us Mon, 27 Jul 2020 00:00:00 +0530 Fri, 07 Aug 2026 11:59:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470761 Interest on loans advanced to overseas associated enterprises is benchmarked at the applicable LIBOR rate without an additional mark-up where jurisdictional precedent and earlier assessment-year orders support that approach; the transfer-pricing adjustment requires recomputation accordingly. Disallowance of expenditure attributable to exempt income is confined to the exempt income actually earned during the relevant year, even where the prescribed computational method produces a higher amount; the disallowance must therefore be restricted and recomputed. Case-Laws Income Tax Mon, 27 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470761