Thursday, 17 July 2014

Interest on FDR isn’t an income from International Transaction; to be excluded from operating income

IT/ILT : Where assessee-company was engaged in rendering only mediatory and support services to its AE located abroad, interest income earned by it on amount deposited in FDRs would not qualify as income from international transactions and, consequently, same could not be included in operating income while determining ALP on basis of TNMM


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