TMI Blog2021 (9) TMI 844X X X X Extracts X X X X X X X X Extracts X X X X ..... to verify the availability of surplus interest free funds and delete the disallowance made u/r 8D(2)(ii). While doing so, the Tribunal has specifically observed that neither the assessing officer nor the learned Dispute Resolution Panel has properly appreciated assessee s contention regarding availability of surplus interest free funds - No rectifiable mistake as the assessee tries to make out. The assessee, in our view, wants the Tribunal to pass an order according to its own liking. Thus, in our view, there is no mistake in the order of the Tribunal as contemplated under section 254(2) of the Act on this issue. Accordingly, we decline to entertain assessee s plea in this regard. Disallowance under section 14A r.w.r. 8D while computin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ternational transaction. In the appellate order of the impugned assessment year, the Tribunal has simply followed its earlier decision. Thus, it has to be presumed that assessee s contention that provision of corporate guarantee is not an international transaction was deemed to have been rejected and the Tribunal proceeded on the footing that it is an international transaction. Thus, in view of our observation above, there is no need for any rectification / recall of the earlier order of the Tribunal. Rectification application dismissed. - M.A. 45/Mum/2021 (Arising out of I.T.A. No.850/Mum/2016 - - - Dated:- 20-8-2021 - Shri Shaktijit Dey (Judicial Member) And Shri S. Rifaur Rahman (Accountant Member) For the Applicant : Shri Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of surplus interest free funds and delete the disallowance made u/r 8D(2)(ii). While doing so, the Tribunal has specifically observed that neither the assessing officer nor the learned Dispute Resolution Panel has properly appreciated assessee s contention regarding availability of surplus interest free funds. Thus, keeping in view the aforesaid observations of the Tribunal, we do not find any rectifiable mistake as the assessee tries to make out. The assessee, in our view, wants the Tribunal to pass an order according to its own liking. Thus, in our view, there is no mistake in the order of the Tribunal as contemplated under section 254(2) of the Act on this issue. Accordingly, we decline to entertain assessee s plea in this regard. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pecifically raised the issue that provision of corporate guarantee to the AE will not come within the ambit of international transaction. Without prejudice, the assessee had contended that arm s length price of guarantee commission should be restricted to 0.5%. He submitted, while restricting the arm s length price of corporate guarantee commission to 0.5%, the Tribunal has not decided the issue whether provision of corporate guarantee is an international transaction. 8. Having considered rival submissions, we find, while deciding the issue relating to adjustment on account of provision of corporate guarantee, the Tribunal has followed the orders passed by it in assessee s own case in assessment years 2008-09, 2009-10 and 2010-11 and r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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