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2015 (10) TMI 535 - AT - Income TaxDisallowance of towards discharge of corporate guarantee obligation - CIT(A) deleted the disallowance - Held that:- As decided in assessee's own case for the assessment year 2004-05 [2009 (8) TMI 782 - ITAT, CHENNAI] giving corporate guarantee was not only one of the objects of the assessee company but the same was given for its subsidiary company and it was in the interest of the assessee company and hence the commercially expedient decision. Under the circumstances, no reason to interfere with the order of the learned Commissioner of Income Tax (Appeals) - Decided in favour of assessee.
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