Interest on Receivables in Foreign Currency: LIBOR Plus Margin Applies, Not SBIPLR, per Section 92B Amendment.

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....TP Adjustment - The interest on receivables is an international transaction as it is subsequent to the amendment to section 92B of the I.T. Act - We are inclined to accept the alternate argument of the assessee that since the receivables are in foreign currency, the rate of interest to be applied is at LIBOR + and nor SBIPLR rate. - AT....