LIBOR is appropriate Benchmarking Rate for determining ALP on outbound Loan Transactions: ITAT dismisses Appeal [Read Order]

LIBOR - appropriate Benchmarking Rate - ALP - outbound - Loan Transactions - ITAT - Appeal - taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi Bench ruled that LIBOR is appropriate benchmarking rate for determining Arm’s Length Price (ALP) on outbound loan transactions. Therefore, the bench dismissed the appeal. The assessee JSW Steel Ltd.is public limited company deriving income from manufacturing and selling of steel pellets, hot and cold rolled coils/ sheets, galvanized…

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