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2023 (2) TMI 1159 - AT - Income TaxTP adjustment - fees / commission for Corporate Guarantee given by the assessee on behalf of its AE - HELD THAT:- In most of the decisions referred the rate of Guarantee Fee has been taken to be in the range of 0.3% to 0.5%. In the present case, it is admittedly a fact on record that assessee suo motu has charged Guarantee Fee @ 0.50% from its AE. We also take note of the observations made by ld. CIT(A) in respect of basis of ‘CCC’ credit rating adopted by the ld. TPO for the purpose of benchmarking of fee towards Corporate Guarantee which is devoid of any comparative factual data. Also, ld. CIT(A) has considered the equal split of benchmarking rate arrived by ld. TPO between the assessee and its AE which doesn’t bear any rationality As the fact that the assessee itself has suo motu charged Guarantee Fees/Commission @ 0.50%, no reason to interfere with the findings given by the ld. CIT(Appeals) on this issue. Accordingly grounds taken by the Revenue in this respect are dismissed. Deposit of employee PF & ESI contribution u/s 36(1)(va) - payment was made beyond the due date of filing the return - HELD THAT:- The issue is squarely covered against the assessee in view of the recent judgment in the case of Chekmate Services Pvt. Ltd.[2022 (10) TMI 617 - SUPREME COURT] wherein it has been held that “deduction u/s 36(1)(va) in respect of delayed deposit of amount collected towards employees’ contribution to PF cannot be claimed when deposited within the due date of filing of return even when read with Section 43B. Decided against assessee.
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