3F INDUSTRIES LIMITED,TADEPALLIGUDEM vs. ASSISTANT COMMISSSIONER OF INCOME TAX, CIRCLE-1, RAJAHMUNDRY
In the result, appeal filed by the assessee is allowed
ITA 275/VIZ/2024[2020-21]Status: DisposedITAT Visakhapatnam30 Oct 2024AY 2020-21
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकरअपीलसं./ I.T.A. No.275/Viz/2024 (िनधा"रणवष"/ Assessment Year :2020-21) 3F Industries Limited, Vs. Assistant Commissioner Of P.B. No. 15, Tanuku Road, Income Tax, Tadepalligudem, West Godavari Circle-1, District, Andhra Pradesh-534101. Rajahmundry. Pan: Aaacf2643K (अपीलाथ"/ Appellant) (""यथ"/ Respondent) अपीलाथ"क"ओरसे/ Appellant By : Ms. Suvibha Nolkha, Ar ""याथ"क"ओरसे/ Respondent By : Dr. Satyasai Rath, Cit-Dr सुनवाईक"तारीख/ Date Of Hearing : 07/10/2024 घोषणाक"तारीख/Date Of : 30/10/2024 Pronouncement O R D E R
For Appellant: Ms. Suvibha Nolkha, ARFor Respondent: Dr. Satyasai Rath, CIT-DR
Section 133(6)Section 143(1)Section 143(2)Section 143(3)Section 92B(1)Section 92CSection 92E
section provides for computation of income arising from international transaction by applying arm’s length principle. The assessee also submitted that no service has been rendered by 3F India and further when a parent company extends an assistance to the subsidiary, being an AE, such as corporate guarantee to a
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financial institution for lending money to the subsidiary, which