ACCC 30, MUMBAI vs. UNITED SHIPPERS LTD, MUMBAI
In the result, appeal filed by the assessee is partly allowed and appeal filed by the AO is dismissed
ITA 3036/MUM/2012[2007-08]Status: DisposedITAT Mumbai26 Apr 2022AY 2007-08
Bench: Shri Prashant Maharishi, Am & Shri Sandeep Singh Karhail, Jm The Asst. Commissioner Of United Shippers Ltd. United India Bldg, 2N D Floor, Sir Income-Tax, Circle-30 R.No. 403, 4Th Floor, P.M. Road , Vs. Aayakar Bhavan, M.K. Marg, Fort, Mumbai-400 020 Mumbai-400 001 (Appellant) (Respondent) Pan No. Aaacu0764C The Asst. Commissioner Of United Shippers Ltd. Income-Tax, Circle-30 United India Bldg, 2N D Floor, Sir R.No. 403, 4Th Floor, P.M. Road , Vs. Ayakar Bhavan, Fort, M.K. Marg, Mumbai-400 001 Mumbai-400 020 (Appellant) (Respondent)
For Appellant: Shri Madhur Agarwal, AdvocateFor Respondent: Shri Ms. Vatsalaa Jha, CIT DR
Section 14ASection 92Section 92CSection 92C(3)
Section 92C (2) of the act. With respect to the arm’s-length price of the corporate guarantee, he following the decision of his predecessor in earlier assessment year held that corporate guarantee fees of 0.5% charged to its associated enterprise based on the past action of the learned transfer-pricing officer, it is at arm’s-length. Therefore
