PCIT v. Redington (India) Ltd.

430 ITR 298High Court2021#775 most cited

What is PCIT v. Redington (India) Ltd. authority for?

A corporate guarantee issued to Associated Enterprises (AEs) is an international transaction under Section 92B, requiring adjustments for guarantee commission due to inherent risk. The reasonable arm's length rate for benchmarking such corporate guarantees can be determined using internal or external comparable uncontrolled prices.

132

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2021 to 2026.

Also referred to as

PCIT v. Redington (India) Ltd. · corporate guarantee · international transaction · Section 92B · guarantee commission · arm's length price · benchmarking corporate guarantee · associated enterprises · retrospective amendment Finance Act 2012 · 430 ITR 298

Also reported as

122 Taxmann.com 136

Sections most often in play

Section 92BSection 14ASection 143(3)Section 92CASection 35(2AB)Section 115JBSection 40(a)(i)Section 8D

Issues it is cited on

goodwill arising on amalgamationcorporate guaranteesection 92b(1)section 43(6)(c)section 2(11)retrospective amendmentsection 92bsection 10(2a)section 43(6)weighted deductionsection 35(2ab)opening wdv

Judgments citing PCIT v. Redington (India) Ltd.

ACIT, Central Circle-1(2), Hyderabad vs. Aurobindo Pharma Limited, Hyderabad

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed in part

ITA 320/HYD/2023[2016-17]Status: DisposedITAT Hyderabad23 Jul 2024AY 2016-17

Bench: Shri K.Narasimha Chary & Shri Madhusudan Sawdiaआ.अपी.सं / Ita No. 320/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Acit, Central Circle 1(2) Vs. Aurobindo Pharma Ltd Hyderabad Hyderabad [Pan : Aabca7366H] आ.अपी.सं / Ita No. 351/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Aurobindo Pharma Ltd Vs. Acit, Central Circle 1(2) Hyderabad Hyderabad Pan: Aabca7366H अपीलाथ" / Appellant "" यथ" / Respondent राज" व "ारा/Revenue By: Shri M Vijay Kumar, Cit(Dr) िनधा"रती "ारा/Assessee By: Advocate Bg Reddy

For Appellant: Advocate BG ReddyFor Respondent: Shri M Vijay Kumar, CIT(DR)
Section 35

…आयकर अपीलीय अिधकरण, हैदराबाद पीठ म" IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI K.NARASIMHA CHARY, JUDICIAL MEMBER & SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं / ITA No. 320/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) ACIT, Central Circle 1(2) Vs. Aurobindo Pharma Ltd Hyderabad Hyderabad [PAN : AABCA7366H] आ.अपी.सं / ITA No. 351/Hyd/2023 (िनधा"रण वष" / Assessment Year: 2016-17) Aurobindo Pharma Ltd Vs. ACIT, Central Circle 1(2) Hyderabad Hyderabad PAN: AABCA7366H अपीलाथ" / Appellant "" यथ" / Respondent राज" व "ारा/Revenue by: Shri M Vijay Kumar, CIT(DR) िनधा"रत…

The Deputy Commissioner of Income Tax, Circle-2(1)(1), Vadodara vs. M/S. Sun Pharmaceuticals Industries Limited, Vadodara

Appeal is dismissed

ITA 118/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2011-12

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

The Deputy Commissioner of Income Tax, Circle-2(1)(1), Vadodara vs. M/S. Sun Pharmaceuticals Industries Limited, Vadodara

Appeal is dismissed

ITA 117/AHD/2020[2006-07]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2006-07

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

The Deputy Commissioner of Income Tax, Circle-2(1)(1), Vadodara vs. M/S. Sun Pharmaceuticals Industries Limited, Vadodara

Appeal is dismissed

ITA 116/AHD/2020[2005-06]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2005-06

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

Appeal is dismissed

ITA 113/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2011-12

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

Appeal is dismissed

ITA 112/AHD/2020[2009-10]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2009-10

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

Appeal is dismissed

ITA 111/AHD/2020[2008-09]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2008-09

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

Appeal is dismissed

ITA 110/AHD/2020[2007-08]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2007-08

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

Sun Pharmaceuticals Industries Limited, Vadodara vs. The Deputy Commissioner of Income Tax, Central Circle-2(1)(1), Baroda

Appeal is dismissed

ITA 109/AHD/2020[2006-07]Status: DisposedITAT Ahmedabad24 Apr 2024AY 2006-07

Bench: Mrs. Annapurna Gupta & Shri T.R. Senthil Kumarsn

For Appellant: Shri S.N. Soparkar, Sr. Advocate &For Respondent: Dr. Darsi Suman Ratnam, CIT-DR

…of Revenue in mind. 39. Before us, the ld. Counsel for the assessee stated that the issue has been decided against the assessee by the Hon’ble Madras High Court in the case of Principal Commissioner of Income-tax-5, Chennai Vs. Redington (India) Ltd., [2021] 430 ITR 298 (Madras), categorically holding the provision of guarantees to be in the nature of international transactions and adjustment being necessitated for guarantee commission therefore. In view of the same, we see no reason to interfere in the order of the ld. CIT(A) confirming the addition made to the Arm’s Length Price of Corporate Guarantee amountin…

Torrent Pharmaceuticals Ltd., Ahmedabad vs. ACIT, Circle-4(1)(2), Ahmedabad

In the result appeal of the Revenue is hereby partly allowed

ITA 1172/AHD/2019[2015-16]Status: DisposedITAT Ahmedabad26 Feb 2024AY 2015-16

Bench: Shri Waseem Ahmed & Ms. Madhumita Roy

For Appellant: Shri Vartik Choksi, With Shri DhrunalBhatt, ARsFor Respondent: Shri Ritesh Parmar, CIT-DR
Section 143(3)Section 14ASection 35Section 43BSection 80

…आयकर अपील"य अ"धकरण, अहमदाबाद "यायपीठ । IN THE INCOME TAX APPELLATE TRIBUNAL, “D” BENCH, AHMEDABAD BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND Ms. MADHUMITA ROY, JUDICIAL MEMBER आयकर अपील सं./ITA(TP).No.2365 and 2366/Ahd/2018 "नधा"रण वष"/Asstt. Years: 2013-14 and 2014-15 Torrent Pharmaceuticals Ltd. D.C.I.T, Circle-4(1)(2) Torrent House, Vs. Ahmedabad. Nr. Dinesh Hall, Off.Ashram Road Ahmedabad 380009. PAN: AAACT5456A And Asstt. Year 2015-16 Torrent Pharmaceuticals Ltd. A.C.I.T, Circle-4(1)(2) Torrent House, Vs. Ahmedabad. Nr. Dinesh Hall, Off.Ashram Road Ahmedabad 380 009. PAN: AAACT5456A आयकर अपील सं./ITA.…

M/S T vs. Motor Company Limited, Chennai

In the result, the appeal filed by the Revenue in IT(TP)A No

ITA 2404/CHNY/2019[2013-14]Status: DisposedITAT Chennai20 Oct 2023AY 2013-14

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri Vikram Vijayaraghavan, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(3)Section 92BSection 92C

…आयकर अपीलीय अिधकरण, ‘डी’ "ायपीठ, चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी महावीर िसंह, उपा"" एवं "ी मनोज कुमार अ"वाल, लेखा सद" के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकरअपीलसं./IT(TP)A No.:66/CHNY/2019 िनधा"रण वष"/Assessment Year: 2013 - 14 The DCIT, TVS Motor Company Ltd., Corporate Circle 3(1), vs. No.29/8, Jayalakshmi Estates, Chennai. Haddows Road, Nungambakkam, Chennai – 600 006. PAN: AAACS 7032B (अपीलाथ"/Appellant) (""थ"/Respondent) & आयकरअपीलसं./ITA No.: 2404/CHNY/2019 िनधा"रण वष"/Assessment Year: 2013 - 14 TVS Motor Comp…

Sundaram Fasteners Limited, Chennai vs. DCIT, Chennai

In the result, the appeal filed by the assessee in IT(TP)A No

ITA 796/CHNY/2017[2012-13]Status: DisposedITAT Chennai31 Aug 2023AY 2012-13

Bench: Shri Mahavir Singhand Shri Manoj Kumar Aggarwal

For Appellant: Shri R. Vijayaraghavan, Advocate &For Respondent: Smt. Jothi Lakshmi Nayak, CIT
Section 10(34)Section 143(3)Section 147Section 14A

…अपीलीय अिधकरण, ‘डी’ "यायपीठ,चे"ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘D’ BENCH, CHENNAI "ी महावीर "सह, उपा"य" एवं "ी मनोज कुमार अ"वाल, लेखा सद"य के सम" BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER आयकर अपील सं./ IT(TP) No.33/CHNY/2018 & ITA No.: 796/CHNY/2017 िनधा"रण वष" /Assessment Years: 2009-10 & 2012-13 Sundaram Fasteners Limited, The DCIT, 98-A, 7th Floor, v. Corporate Circle – 6(2), Dr. Radhakrishnan Salai, Chennai. Mylapore, Chennai – 600 004. PAN: AAACS 8779D (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/Appellant by : Shri R. Vijayaraghavan, Advo…

Thr Infrastructure Pte Ltd, Gurgaon vs. DCIT, Cir.-3(1)(1), Intl Tax, New Delhi

In the result, the appeal of the assessee is allowed

ITA 1915/DEL/2022[201-18]Status: DisposedITAT Delhi12 May 2023

Bench: Sh. Saktijit Deydr. B. R. R. Kumar

For Appellant: Sh. Ajay Vohra, Sr. AdvFor Respondent: Sh. Gangadhar Panda, CIT-DR
Section 143(3)

…THE INCOME TAX APPELLATE TRIBUNAL DELHIBENCH ‘D’, NEW DELHI Before Sh. Saktijit Dey, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 1915/Del/2022 : Asstt. Year : 2017-18 THR Infrastructure Pte. Ltd., Vs DCIT, C/o Aakash Uppal, BDO India LLP, Circle-3(1)(1), The Palm Springs Plaza, Officer No. International Taxation, 15th 1501-8, Floor, Sector-54, Golf New Delhi-110002 Course Road, Gurgaon, Haryana-122001 (APPELLANT) (RESPONDENT) PAN No. AACCF0512B Assessee by : Sh. Ajay Vohra, Sr. Adv. Revenue by : Sh. Gangadhar Panda, CIT-DR Date of Hearing: 14.02.2023 Date of Pronouncement: 12.05.2023 ORDER Per…

Ocimum Bio Solutions (I) Ltd., Hyd, Hyderabad vs. ACIT, Circle-16(2), Hyderabad

In the result, appeal of the assessee is treated as partly allowed for statistical purposes

ITA 280/HYD/2016[2011-12]Status: DisposedITAT Hyderabad26 Apr 2023AY 2011-12

Bench: Shri Rama Kanta Panda & Shri K. Narasimha Charyआ.अपी.सं / Ita No. 280/Hyd/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/S. Ocimum Bio Solutions Asst. Commissioner Of (I) Ltd., Vs. Income Tax, Hyderabad Circle- 16(2), [Pan No. Aaaco4095L] Hyderabad अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent

For Appellant: Shri P. Murali Mohan Rao, ARFor Respondent: Shri Jeevan Lal Lavidiya, CIT-DR
Section 143(3)

…आयकर अपीलीय अधिकरण, हैदराबाद पीठ में IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES “B”, HYDERABAD BEFORE SHRI RAMA KANTA PANDA, ACCOUNTANT MEMBER & SHRI K. NARASIMHA CHARY, JUDICIAL MEMBER आ.अपी.सं / ITA No. 280/Hyd/2016 (निर्धारण वर्ा / Assessment Year: 2011-12) M/s. Ocimum Bio Solutions Asst. Commissioner of (I) Ltd., Vs. Income Tax, Hyderabad Circle- 16(2), [PAN No. AAACO4095L] Hyderabad अपीलधर्थी / Appellant प्रत्‍यर्थी / Respondent निर्धाररती द्वधरध/Assessee by: Shri P. Murali Mohan Rao, AR रधजस्‍व द्वधरध / Revenue by: Shri Jeevan Lal Lavidiya, CIT-DR सुिवधई की तधरीख/Date of hearing: 15/03/2023 घ…

Macrotech Developers Ltd.(Successor to Bellissimo Crown Buildmart Pvt Ltd., Mumbai vs. DCIT Central Circle 7(3), Mumbai

The appeal is allowed

ITA 2266/MUM/2022[2017-18]Status: DisposedITAT Mumbai17 Apr 2023AY 2017-18

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri Manoj Kumar, CIT DR
Section 115JSection 14ASection 928Section 92B

…at the rate of 0.5% is not correct. 022. We find that the first argument that Corporate Guarantee is not an international Transaction is no more valid in view of the decision of Honourable Madras High court in case of PCIT V Redington [ India] Limited [2021] 430 ITR 298 (Mad) where in it has been held as under :- ITA Nos. 2266 & 2239/Mum/2022 Macrotech Developers Ltd; A.Ys. 17-18 & 18-19 "75. The concept of bank guarantees and corporate guarantees was explained in the decision of the Hyderabad Tribunal in the case of Prolific Corporation Limited. In the said case, the Revenue contended that the transaction of pr…

Macrotech Developrs Ltd, Mumbai vs. Dy Commissioner of Income Tax, Central Circle 7(3), Mumbai

The appeal is allowed

ITA 2239/MUM/2022[2018-19]Status: DisposedITAT Mumbai17 Apr 2023AY 2018-19

Bench: Shri Prashant Maharishi, Am & Shri Pavan Kumar Gadale, Jm

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri Manoj Kumar, CIT DR
Section 115JSection 14ASection 928Section 92B

…at the rate of 0.5% is not correct. 022. We find that the first argument that Corporate Guarantee is not an international Transaction is no more valid in view of the decision of Honourable Madras High court in case of PCIT V Redington [ India] Limited [2021] 430 ITR 298 (Mad) where in it has been held as under :- ITA Nos. 2266 & 2239/Mum/2022 Macrotech Developers Ltd; A.Ys. 17-18 & 18-19 "75. The concept of bank guarantees and corporate guarantees was explained in the decision of the Hyderabad Tribunal in the case of Prolific Corporation Limited. In the said case, the Revenue contended that the transaction of pr…

3F Industries Limited, Tadepalligudem vs. Deputy Commissioner of Income Tax, Circle-1, Rajamahendravaram

In the result, appeal of the assessee is partly allowed

ITA 225/VIZ/2022[2016-17]Status: DisposedITAT Visakhapatnam06 Mar 2023AY 2016-17

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Smt. Suvibha Nolkha, CAFor Respondent: Sri ON Hari Prasada Rao, Sr
Section 143(1)Section 143(2)Section 143(3)Section 92(1)Section 92B(1)Section 92CSection 92E

…he computation of ALP and the tested party with respect to the guarantees given to the AEs. The Ld. TPO has thus concluded that the median of the ALP works out to 1.60% on the corporate guarantee given to AEs. In the case of CIT vs. Redington India Ltd [2021] 430 ITR 298, Hon’ble Madras High Court held that corporate guarantee given to the AE is covered by the retrospective amendment made by the Finance Act, 2012. In the case of CIT vs. Everest Kanto 9 Ltd reported in 378 ITR 57 the Hon’ble Bombay High Court held that the corporate guarantee commission is an international transaction and should be charged @ 50%…

3F Industries Limited, Tadepalligudem vs. The Assistant Commissioner of Income Tax, Circle-1, Eluru

In the result, appeal of the assessee is partly allowed

ITA 473/VIZ/2018[2014-15]Status: DisposedITAT Visakhapatnam16 Feb 2023AY 2014-15

Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Ble

For Appellant: Smt. SuvibhaNolkha, CAFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 92BSection 92CSection 92E

…computation of ALP and the tested party with respect to the guarantees given to the AEs. The Ld. TPO has thus concluded that the median of the ALP works out to 1.60% on the corporate guarantee given to AEs. In the case of CIT vs. Redington India Ltd [2021] 430 ITR 298, Hon’ble Madras High Court held that corporate guarantee given to the AE is covered by the retrospective amendment made by the Finance Act, 2012. In the 8 case of CIT vs. Everest Kanto Ltd reported in 378 ITR 57 the Hon’ble Bombay High Court held that the corporate guarantee commission is an international transaction and should be charged @ 50%…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1899/KOL/2017[2013-14]Status: DisposedITAT Kolkata13 Feb 2023AY 2013-14

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…

M/S Tata Global Beverages Limited, Kolkata vs. The DCIT, Circle-4(2), Kolkata

In the result, the appeals filed by the assessee for AY 2012-

ITA 1854/KOL/2016[2012-13]Status: DisposedITAT Kolkata13 Feb 2023AY 2012-13

Bench: Dr. Manish Borad & Sonjoy Sarma

Section 143(3)Section 14ASection 92B

…आयकर अपीलीय अधिकरण कोलकाता 'सी' पीठ, कोलकाता में IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘C’ BENCH, KOLKATA डॉ. मनीष बोरड, लेखा सदस्य एवं श्री संजय शमाा, न्याधयक सदस्य के समक्ष Before DR. MANISH BORAD, ACCOUNTANT MEMBER & SONJOY SARMA, JUDICIAL MEMBER I.T.A. No.: 1854/Kol/2016 Assessment Year: 2012-13 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. DCIT, Circle-4(2), Kolkata.....................................Respondent I.T.A. No.: 1899/Kol/2017 Assessment Year: 2013-14 M/s. Tata Global Beverages Limited.........................Appellant [PAN: AABCT 0602 K] Vs. D…