Court Orders Transfer Pricing Adjustment on ECB Loan Interest Rate to LIBOR Plus 300 Basis Points Despite RBI Approval.

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....TP adjustment to payment of interest on ECB loan - TPO himself has stated that while granting permission to the assessee for availing ECB loan, the RBI has fixed the interest rate at six months USD LIBOR plus 350 basis points - directed to determined interest rate at six months USD LIBOR rate plus 300 basis points....