DEPUTY COMMISSIONER OF INCOME TAX CC-7(3), MUMBAI vs. M/S MACROTECH DEVELOPERS LIMITED (FORMERLY KNOWN AS LODHA DEVELOPERS PVT LTD) (SUCCESSOER OF M/S BELLISSIMO CROWN BUILDMART PVT LTD ), MUMBAI

Accordingly should be allowed as a deduction

Bench: Shri Kuldip Singh () & Ms. Padmavathy S. ()

section 92CA(3) dated 28/06/2019 determining the total transfer pricing adjustment of Rs.4,32,22,246/- towards corporate guarantee given by the assessee towards security cum Guarentee given on senior notes and Tenancy Agreement. The Assessing Officer passed the assessment order incorporating the Transfer Pricing adjustment. The Assessing Officer, in addition to the TP adjustment also made a disallowance

DEPUTY COMMISSIONER OF INCOME TAX, CC-7(3), MUMBAI vs. M/S MACROTECH DEVELOPERS LIMITED , MUMBAI

Accordingly should be allowed as a deduction