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2019 (1) TMI 102 - AT - Income TaxTPA - ALP adjustment on corporate guarantee fee - Upward adjustment ignoring provisions of section 92CA(3) - Held that:- Respectfully following the order of the Co-ordinate Bench of this Tribunal in assessee’s own case, we set aside the order of the Ld. CIT(A) and direct that the guarantee commission be benchmarked by taking the rate of 1% of the outstanding guarantee amount be computed and adjustment should be made accordingly. Thus Ground No. 1 of the revenues appeal is partly allowed. Treatment to service charges - business income OR house property income - Held that:- As relying on MODEL MANUFACTURING CO. PVT. LIMITED [1986 (3) TMI 7 - CALCUTTA HIGH COURT] we confirm the order of the Ld. CIT(A) allowing the treatment of service charges as business income instead of income from house property. Claim of balance additional depreciation on the assets which were put to use in the earlier financial year - Held that:- this issue is no longer res integra and the Hon’ble Karnataka High Court in CIT vs Rittal (India) Ltd. [2016 (1) TMI 81 - KARNATAKA HIGH COURT] - Decided in favour of assessee
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