Before the Tribunal the assessee contended that Interest rate could not exceed LIBOR plus 200 basis points. Matter remanded to TPO for examination. (AY. 2007 -08)
Tata Motors Ltd. v. CIT (2019) 177 ITD 327 (Mum.)(Trib.)
S. 92C : Transfer pricing–Arm’s length price-Loan to AEs without charging interest–Interest rate could not exceed LIBOR plus 200 basis points–Remanded to TPO for examination.