FCCD are Debt: ITAT confirms benchmarking done by applying LIBOR plus 200 points [Read Order]

FCCD - Debt - ITAT - benchmarking - LIBOR - taxscan

The Income Tax Appellate Tribunal ( ITAT ), Hyderabad Bench held that FCCD (Fully Compulsorily Convertible Debentures) are debt and confirmed the benchmarking done by applying LIBOR plus 200 points. The assessee, Watermarke Residency Limited is engaged in the business of real estate etc. During the assessment year under consideration, the assessee filed a Form…

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