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TP Adjustment Deleted as INR-Denominated CCD Interest Must Follow PLR

CA Vijayakumar Shetty 18 Dec 2025 234 Views 1 comment Print
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Case Law Details

Case Name : Cinepolis India Private Limited Vs ACIT (ITAT Delhi)
Related Assessment Year : 2016-17
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Cinepolis India Private Limited Vs ACIT (ITAT Delhi)

ITAT Delhi Deletes ₹9.35 Cr TP Adjustment on Interest on Rupee-Denominated CCDs; PLR to Prevail Over LIBOR

Delhi Bench ‘H’ of the ITAT, in , deleted the transfer-pricing adjustment of ₹9.35 crore made on account of interest paid on compulsorily convertible debentures (CCDs) issued to a non-residen

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Author Bio

CA Vijayakumar Shetty qualified in 1994 and in practice since then. Founding partner of Shetty & Co. He is a graduate from St Aloysius College, Mangalore . View Full Profile

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