DCIT vs Rohit Ferro Tech Ltd.

Authority: ITAT Tribunal/Court: Kolkata Date: 2018-10-12 AY: 2009-10, 2010-11 Section: 92B, 36(1)(Va), 2(24)(x), 14A, 144C(3), 92CA(3) Acts: Income Tax Act 1961 Result: Assessee Citation: 1018Taxpundit147 Justices: S.S. Godara JM & M. Balaganesh AM Appeal No: IT A Nos. 262 & 26 3/Kol/2018
Whether interest on foreign currency denominated loans to Associated Enterprises should be benchmarked at domestic interest rates or LIBOR rates? --- Held: LIBOR rates. Whether corporate guarantees provided to AEs constitute an international transaction under Section 92B? --- Held: No. Whether disallowance under Section 36(1)(Va) applies to employee contributions paid before due date of return filing? --- Held: No. Whether Section 14A disallowance applies when no exempt income is earned? --- Held: No.

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