ITAT denies to accept LIBOR to determine ALP of interest; approves rate accepted by assessee in earl

IT/ILT : Where assessee filed application contending that LIBOR linked interest rate had to be applied in order to determine ALP of interest in respect of loan granted to AE, since assessee had accepted rate of 7 per cent in earlier year and that was basis for directing to adopt 7 per cent by Tribunal during relevant year as well, said direction did not require any interference