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2019 (5) TMI 337 - AT - Income TaxAllowability of deduction claimed u/s 80IB - income generated from scrap sales - HELD THAT:- As in assessee’s own case in assessment year 2009–10 [2016 (2) TMI 1230 - ITAT MUMBAI] has allowed assessee’s claim of deduction. Following the aforesaid decision of the Tribunal, Commissioner (Appeals) has also allowed assessee’s claim of deduction under section 80IB in respect of scrap sales in assessment year 2010–11. Facts being identical, respectfully following the decision of the Co–ordinate Bench as referred to above, we uphold the decision of the Commissioner (Appeals) in allowing assessee’s claim of deduction under section 80IB in respect of scrap sales in both the assessment years under appeal. Determination of arm's length price of corporate guarantee fee - Commissioner (Appeals) in restricting the arm's length price of corporate guarantee fee @ 0.5% - HELD THAT:- Commissioner (Appeals) in restricting the arm's length price of corporate guarantee fee @ 0.5% is in consonance with the decision of the Hon'ble Jurisdictional High Court in Everest Kento Cylinders Ltd. [2012 (11) TMI 1099 - ITAT MUMBAI]. In various other decisions also, different Benches of the Tribunal following the aforesaid decision of the Hon'ble Jurisdictional High Court have directed the Assessing Officer to determine the arm's length price of corporate guarantee commission @ 0.5%. That being the case, we uphold the decision of the learned Commissioner (Appeals) on the issue. Grounds raised are dismissed in both the appeals.
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