{"id":62808,"date":"2026-07-30T10:26:15","date_gmt":"2026-07-30T04:56:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ito-v-v-r-surat-p-ltd-2023-152-taxmann-com-679-2025-129-itr-626-surattrib-2\/"},"modified":"2026-07-30T10:26:15","modified_gmt":"2026-07-30T04:56:15","slug":"ito-v-v-r-surat-p-ltd-2023-152-taxmann-com-679-2025-129-itr-626-surattrib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-v-v-r-surat-p-ltd-2023-152-taxmann-com-679-2025-129-itr-626-surattrib-2\/","title":{"rendered":"ITO v. V. R. Surat P. Ltd. [2023] 152 taxmann.com 679 \/ (2025) 129 ITR 626 (Surat)(Trib.)"},"content":{"rendered":"<p style=\"margin: 0in;margin-bottom: .0001pt;text-align: justify;line-height: 150%\"><span lang=\"EN-IN\" style=\"font-family: &#039;Verdana&#039;,sans-serif\">The Transfer Pricing Officer recomputed the arm&#8217;s length rate of interest on unsecured compulsorily convertible debentures issued to the assessee&#8217;s associated enterprise. The Tribunal held that the coupon rate on the same debentures had been accepted by the Revenue in the earlier assessment year and there was no change in the facts. The comparables selected by the Transfer Pricing Officer were also not appropriate as they included financing companies and secured debentures. Accordingly, the deletion of the transfer pricing adjustment by the Commissioner (Appeals) was upheld. <strong><span style=\"font-family: &#039;Verdana&#039;,sans-serif\">(AY. 2015-16).<\/span><\/strong><b><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 92CA: Transfer pricing-Reference to Transfer Pricing Officer-Arm\u2019s Length price-Avoidance of tax-Interest on unsecured compulsorily convertible debentures-Arm&#8217;s length rate accepted in earlier years-Revenue could not adopt a different view in absence of change in facts. [S.92C,  143, R. 10B]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-62808","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gl2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62808","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=62808"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62808\/revisions"}],"predecessor-version":[{"id":62809,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/62808\/revisions\/62809"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=62808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=62808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=62808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}