discussed above, it is
ultimat ely the RBI wh ich decides and publishes the data about
Rural branches and t here is no difference between
export of finished goods to associated enterprises.The Ld.TPOalso rejected the RBI
approval as benchmark to determine the ALP for payment of know ... absence of any
verifiable data. Even auditors of the assessee who prepared the transfer pricing report
have not verified any data in this regard. Even
branch/ semi urban branch. From the above it is clear that the RBI has accepted the
report submitted by the bank without prop examination ... RBI which monitors the bad and doubtful
debts and the same has been considered and allowed, Therefore the comments of
the AO on the RBI
M/S Toplink Commerce Limited, Kolkata vs Ito, Ward 10(2), Kolkata on 9 September
Balhanuman Commodeal Pvt. Ltd., ... vs Ito, Ward-5(4), Kolkata on 3 October, 2024
IN
Winsher Vinimay Pvt. Ltd., , Kolkata vs Ito, Ward - 9(2), Kolkata , Kolkata on 6 August
neither the
assessee nor its investors had followed the guidelines of RBI or ICAI or any
other guidelines for determining the rate of premium ... them, did not
have any promising business activities. Thus, on analysing the data which
was available it is seen that each of the companies have
assessee is a non-banking finance company duly registered with
RBI and source of share subscribing company was furnished before the AO during the
course ... copy of
certificate of registration of NBFC and copy of master data etc. The notice/summon u/s
131 of the Act was also issued
Reserve Bank of India Act. The said prudential norms of
RBI mandate the assessee to recognize interest income on NPA accounts only on receipt
basis ... interest income on accrual basis in consonance with prudential
norms prescribed by RBI for the Asst Years 2008-09 and 2009-10. The Learned
Audited Financial Statement together with ITR for AY 2015-16, Master
data, relevant extracts from bank statement of party, relevant extracts from bank
statement ... confirmation letter from party, registration certificate confirming company
registered as NBFC with RBI, further the loans from all the three parties is duly
repaid
