What should be your response when your boss thanks you for using his own resource allotted to you and you respect your boss and cannot respond him like It's ok or you're welcome.
Some appropriate responses would be:
And, of course, you could use "sir" or "ma'am" to make your response even more polite.
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You can't go wrong with, "You're welcome." It's short, it's to the point, and it's sufficiently formal. If you need to dress it up a bit further you can add "glad to help" at the end.
I would worry that too long or too flowery of a response might be interpreted as being condescending or mocking, especially if you're responding in written correspondence where the intonation of the response is hard to judge.
Let me put it this way, if I thanked a subordinate and she responded with something verbose like, "I am always most happy to serve you," or, "It is always my pleasure to come to your aid," I would think that bordered between weird and condescending.