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2019 (10) TMI 831 - AT - Income TaxTP Adjustment - adjustment made on account of corporate guarantee given by the assessee on behalf of its AE by accepting 1% guarantee fee charged by the assessee to be at arm’s length - HELD THAT:- This Tribunal in assessee’s own case for A.Yrs.2011-12 and 2012-13 [2019 (5) TMI 337 - ITAT MUMBAI] respectively had adjudicated the very same issue wherein by following the decision of Hon’ble Jurisdictional High Court, in the case of Everest Kanto Cylinders [2015 (5) TMI 395 - BOMBAY HIGH COURT] this Tribunal directed the ld. AO to determine the ALP of corporate guarantee commission at 0.5%. However, for the year under consideration, the assessee had actually charged 1% guarantee fee from its AE which is more than 0.5% fixed by this Tribunal in assessee’s own case for earlier years, we hold that charging of 1% is guarantee fee from its AE should be accepted to be at arm’s length, which has been rightly done by the ld. CIT(A) in the instant case. Accordingly, we do not find any infirmity in the order of the ld. CIT(A) in this regard. Accordingly, the ground Nos. 1-3 raised by the revenue are dismissed.
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