ITAT remanded matter to determine whether loan was advanced by assessee to AE at LIBOR plus rates

IT/ILT : Where assessee advanced certain amount of loan to its AEs, following order passed by Co-ordinate Bench of Tribunal in ITA No. 1866/Hyd./2012 dated 29-11-2003, matter was to be remanded back to Assessing Officer to examine whether rate of interest received was at LIBOR + percentage points and, in case some of loans were reflecting rate at ordinary percentage points, conversion to LIBOR plus was required