ITAT orders SBI-PLR for interest on CCDs, adjusts AE receivables interest, and rules on goodwill depreciation under section 14A Rule 8D

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....The ITAT set aside the addition of interest paid on CCDs benchmarked at LIBOR plus 200 bps, holding SBI-PLR as the appropriate rate. It directed deletion of such addition by AO/TPO. The Tribunal also reversed the addition of notional interest on overdue AE receivables benchmarked at SBI short-term deposit rate, mandating computation using LIBOR plus 200 bps after a 30-day credit period. The assessee's weighted average credit period argument was rejected. Depreciation on goodwill arising from amalgamation was disallowed, affirming AO/DRP's view that the goodwill was not genuine. Under section 14A read with Rule 8D, the Tribunal partially allowed the assessee's appeal by reducing disallowance to net of suo motu disallowance already accounted .........