DCIT Vs. Omaxe Ltd.
Case No: ITA No. 2148 & 2149/Del/2025
Court: INCOME TAX APPELLATE TRIBUNAL DELHI
Bench: DELHI BENCH ‘I’ NEW DELHI
Parties Involved
appellantDCIT
respondentOmaxe Limited
Facts Summary
The Revenue filed appeals challenging the orders of the Commissioner of Income Tax (Appeals)-44, Delhi for Assessment Years 2016-17 and 2017-18. The solitary grievance of the Department was against the action of the Ld. CIT(A) in determining the credit spread at 500 basis point relying upon the guidelines issued by Reserve Bank of India for external commercial borrowing. The Revenue argued that the Ld. CIT(A) did not analyze the lending and borrowing rate of the countries involved and ignored th…
Decision in favour of
Assessee
Legal Issues
- 1. Determination of the credit spread at 500 basis point.
Precedents Relied Upon
2 precedents cited in this judgement.