{"id":21315,"date":"2021-09-02T18:23:42","date_gmt":"2021-09-02T12:53:42","guid":{"rendered":"https:\/\/itatonline.org\/digest\/bennett-coleman-co-ltd-v-dcit-mum-trib-www-itatonline-org\/"},"modified":"2022-06-08T07:48:29","modified_gmt":"2022-06-08T02:18:29","slug":"bennett-coleman-co-ltd-v-dcit-mum-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/bennett-coleman-co-ltd-v-dcit-mum-trib-www-itatonline-org\/","title":{"rendered":"Bennett Coleman &#038; Co Ltd. v. DCIT ( 2021) 205 DTR 209   ( Mum) ( Trib) www.itatonline .org"},"content":{"rendered":"<p>Allowing the appeal of the asssessee the Tribunal held that is an interest-free debt funding of an overseas company in the nature of a special purpose vehicle (<strong>SPV<\/strong>), with a corresponding obligation to use it for the purpose of acquisition of a target company abroad, cannot be compared with a loan simpliciter, and cannot be subjected to an arm\u2019s length price adjustment, on the basis of Comparable Uncontrolled Price (<strong>CUP<\/strong>) method accordingly. \u00a0\u00a0(ITA Nos. 7523\/Mum\/2014, 5827\/Mum\/2015 and 484\/Mum dated August 30, 2021 (AY .2010-11, 2011-12 , 2012-13)<\/p>\n<p>Allowing the appeal of the asssessee the Tribunal held that is an interest-free debt funding of an overseas company in the nature of a special purpose vehicle (<strong>SPV<\/strong>), with a corresponding obligation to use it for the purpose of acquisition of a target company abroad, cannot be compared with a loan simpliciter, and cannot be subjected to an arm\u2019s length price adjustment, on the basis of Comparable Uncontrolled Price (<strong>CUP<\/strong>) method accordingly. \u00a0\u00a0(ITA Nos. 7523\/Mum\/2014, 5827\/Mum\/2015 and 484\/Mum dated August 30, 2021 (AY .2010-11, 2011-12 , 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92C : Transfer pricing \u2013 Arm\u2019s length price \u2013 CUP method -Interest-free debt funding of an overseas company in the nature of a special purpose vehicle interest-free debt funding of an overseas company in the nature of a special purpose vehicle \u2013 Cannot be compared with loan simpliciter \u2013 Cannot be subjected to arm\u2019s length price . [ S. 92A, 92B ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-21315","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5xN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=21315"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21315\/revisions"}],"predecessor-version":[{"id":27320,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/21315\/revisions\/27320"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=21315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=21315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=21315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}