ITAT Mumbai held that prolonged non-payment of interest and repeated amendments to loan agreements justified benchmarking AE loans at a fixed 6.5% rate instead of floating LIBOR rates. The Tribunal also directed grant of credit for interest income already offered to tax suo motu.
The post ITAT Mumbai Upholds 6.5% Fixed Interest Benchmark on AE Loans Due to Long-Term Non-Payment appeared first on TaxGuru.
