QUBIX BUSINESS PARK PRIVATE LIMITED,PUNE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 8, PUNE

ITA 2420/PUN/2025Status: DisposedITAT Pune16 September 2026AY 2022-2310 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that providing a corporate guarantee to an associated enterprise constitutes an international transaction. It further held that income from such a guarantee is not eligible for deduction under Section 80IAB(10) as it is not part of the SEZ development activity.

What were the facts?

The assessee claimed deduction under Section 80IAB(10) after providing a corporate guarantee to an associated enterprise. The Transfer Pricing Officer (TPO) made an upward adjustment for corporate guarantee fee, deeming it an international transaction not eligible for the deduction.

What were the issues?

Whether corporate guarantee to an associated enterprise is an international transaction and if income from it is eligible for deduction under Section 80IAB.

Which sections of the Income-tax Act were involved?

Section 80IAB,Section 92B,Section 92C,Section 244A,Section 270A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCHES “C”, PUNE

Before: DR.MANISH BORAD & SHRI VINAY BHAMORE

For Appellant: Shri Ajay Rotti
For Respondent: Smt. Sudha Gupta, CIT-DR
Hearing: 02.07.2026Pronounced: 16.09.2026

PER DR. MANISH BORAD, ACCOUNTANT MEMBER :

The captioned appeal at the instance of assessee pertaining to A.Y. 2022-23 is directed against the order of Assessing Officer passed u/s.143(3) r.w.s.144C(13) r.w.s.144B of the Income-tax Act, 1961 (hereinafter also called ‘the Act’).

2.

Brief facts of the case are that the assessee is a Private limited company primarily engaged in the business of Development, Leasing and Maintenance of commercial Real Estate and related interiors. Return of income for A.Y. 2022-23 filed on 23.10.2023 declaring Nil income

2 Qubix Business Park Private Limited

after claiming deduction u/s.80IAB(10

The order continues below.

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