M/S. EID PARRY INDIA LTD.,CHENNAI vs. DCIT, LTU-1,, CHENNAI
In the result, all the appeals filed by the assessee are partly allowed for statistical purposes and the appeal filed by the Revenue is dismissed
ITA 3113/CHNY/2024[2014-15]Status: DisposedITAT Chennai21 Apr 2025AY 2014-15
Bench: Shri George George Kand Shri S.R. Raghunathait(Tp)A. Nos.:105, 106, 107/Chny/2024 & Ita No.3113/Chny/2024 िनधा"रण वष"/Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 M/S. E.I.D. Parry India Ltd., The Deputy Commissioner Of No. 234, Dare House, Nsc Vs. Income Tax, Bose Road, Parrys Corner, Large Taxpayer Unit -1, Chennai 600 001. Chennai. [Pan: Aaace-0702-C] (अपीलाथ"/Appellant) (""यथ"/Respondent)
For Appellant: Shri R. Vijayaraghavan, AdvocateFor Respondent: Shri A. Sasikumar, CIT
Section 143(1)Section 143(2)Section 250Section 92BSection 92C
92B(1) of the Act. However, the TPO observed that, “since the transaction is similar to loan transaction, the liability always lies with the IT(TP)A Nos.105 to 107/Chny/2024 &
ITA No. 3113 & 3251/Chny/24
assessee till the LOC/guarantee is closed. Based on the nature of the transaction it cannot be viewed as a single isolated transaction with respect
