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2018 (6) TMI 1619 - ITAT MUMBAITP Adjustment - addition on corporate guarantee given by the assessee for availing loan by the associated enterprises - TPO after reducing the guarantee fee received by the assessee @1% from its AEs treated the balance amount as adjustment under section 92CA as transfer pricing adjustment which is also confirmed by the DRP - HELD THAT:- As decided in assessee's own case [2018 (5) TMI 1886 - ITAT MUMBAI] held that guarantee commission should be worked out at 0.50% of the average amount of the loan outstanding. We, therefore, following the decision of the co-ordinate Bench and maintaining the consistency with the earlier year, direct the AO to delete the addition. Addition u/s 14A read with rule 8D - HELD THAT:- No disallowance is attracted in respect of those investments which yielded no exempt income under the provision of section 14A read with rule 8D as has been held in the case of ACIT vs. Vireet Investment (P.) Ltd. [2017 (6) TMI 1124 - ITAT DELHI] . We, therefore, restore the issue back to the file of the AO with the direction to decide the same in the light of the ratio laid down by the special bench in the above case.
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