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2017 (11) TMI 1750 - AT - Income TaxRectification of mistake - Mistake apparent from record - corporate guarantee has been held to be an international transaction - Held that:- We find that the Coordinate Bench of the Tribunal in the case of Siro Clinpharm Private Ltd (2016 (5) TMI 633 - ITAT MUMBAI) has considered all the above arguments of the Revenue to hold that the corporate guarantee cannot be treated as an international transaction prior to the amended provision of u/s 92B of the IT Act with effect from 01-04-2012 i.e from the A.Y 2013-14 onwards. Further, it is also seen for the A.Ys 2009-10 and 2010-11, the assessee had raised the ground that the corporate guarantee is not covered under the definition of international transaction u/s 92B of the IT Act, as ground of appeal No. 12 before us. In view of the same, we agree that there is a mistake apparent from record in the order of the Tribunal for the A.Ys 2009-10 & 2010-11 in confirming the corporate guarantee fee at 0.50% - decided against revenue
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