ITAT deletes upward Adjustment on International Transactions for Payments of Interest on FCDs [Read Order]

ITAT - international transactions - Payments - Interest - FCDs - taxscan

The upward adjustment on international transactions for “payments of interest on Fully Convertible Debentures (FCD)” was deleted by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT). The cross-appeals have been filed by either party challenging the impugned order dated 25/10/2017, passed under section 250 of the Income Tax Act, 1961 (the Act) by…

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