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2023 (2) TMI 292 - AT - Income TaxTP Adjustment - corporate guarantee provided to AEs - HELD THAT:- We are of the considered opinion that since ITAT has decided the issue in assessee’s own case AY 2014-15 [2022 (5) TMI 685 - ITAT DELHI] and the same has not been reversed by Hon’ble jurisdictional High Court, we follow the same and direct that disallowance be restricted to 0.5% as has been held in the above order of the ITAT. Disallowance in respect of provision made for sales incentive under Shahenshah Scheme - HELD THAT:- As we find that the issue is decided by the ITAT in assessee’s own case 2014-15 [2022 (5) TMI 685 - ITAT DELHI] in assessee’s favour consistently, hence we follow the same and are of the opinion that the provisions made in this regard are allowable - we direct that the disallowance in this regard is to be deleted. Deduction/rejection allowable u/s 80IC - AO noted that in the preceding year, the assessee was disallowed section 80IC deduction on interest income and held the same was not allowable in this year also - HELD THAT:- Since in assessee’s own case AY 2009-10 [2021 (1) TMI 741 - ITAT DELHI] the issue is decided in favour of the assessee, we hold that principally the issue is in favour of the assessee. Revenue authorities have also pointed out that assessee has not given necessary breakup and particular of interests mentioned in CIT’s order as above. We remit this issue to the file of the AO to obtain the necessary breakup and follow the ITAT order as above.
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