3F INDUSTRIES LIMITED,TADEPALLIGUDEM vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY
In the result, appeal of the assessee is partly allowed for statistical purposes
ITA 434/VIZ/2024[2021-22]Status: DisposedITAT Visakhapatnam25 Nov 2024AY 2021-22
Bench: Shri K. Narasimha Chary, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अपीलसं./I.T.A.No.434/Viz/2024 (निर्धारण वर्ा/ Assessment Year: 2021-22) 3F Industries Limited V. Asst. Cit – Circle – 1 Aayakar Bhavan Pb No. 15, Tanuku Road Veerabhadrapuram Tadepalligudem, West Godavari Rajahmundry – 533105 Andhra Pradesh - 534102 Andhra Pradesh [Pan: Aaacf2643K] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent)
Section 143(1)(a)Section 143(2)Section 143(3)Section 92B(1)Section 92CSection 92E
10B of the IT Rules, 1962 and thus the Ld. TPO worked out the ALP to 1.95% for the corporate guarantee of above Rs. 10 Crs. Accordingly, the Ld. TPO computed the corporate guarantee at Rs. 72,39,391/- and made the TP adjustment u/s. 92CA of the Act. Thus, the Ld. TPO observed that the Ld.AO is required
