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2023 (4) TMI 389 - ALLAHABAD HIGH COURTTP Adjustment - ALP on the corporate guarantee - Tribunal has considered the controversy and remanded the matter to the AO for denovo adjudication - HELD THAT:- As decided by Tribunal in course of proceeding before the TPO as well as before Commissioner (Appeals), the assessee had advanced detailed submissions on merits contesting the adjustment made on account of provision of corporate guarantee. While the TPO has completely rejected the submissions of the assessee, Commissioner (Appeals) did not deal with them as he held that the provision of corporate guarantee is not an international transaction. Thus, in our view, the assessee deserves a fair opportunity to contest the issue relating to the determination of ALP of guarantee commission to be charged on provision of corporate guarantee on merits. Since the matter has been remanded by the ITAT for denovo adjudication, giving detailed reasons for remand, therefore, no substantial question of law is involved in the impugned order of the Tribunal.
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