https://www.taxtmi.com/caselaws?id=368644 The High Court upheld the ITAT's decision to set aside part relief granted by the CIT(A) for OFCD and corporate guarantee fee adjustments. It affirmed the Arm's Length Price calculation based on LIBOR rates and spread, along with the reduction in corporate guarantee fee. The court also supported the ITAT's deletion of the disallowance of expenses incurred on behalf of another company under section 37(1) of the Act. Additionally, it confirmed the ITAT's allowance of weighted deduction under section 35(2AB) for lunch, refreshment, and brokerage expenses related to R&D activities. en-us Tue, 04 Sep 2018 00:00:00 +0530 Thu, 11 Oct 2018 17:07:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368644 The High Court upheld the ITAT's decision to set aside part relief granted by the CIT(A) for OFCD and corporate guarantee fee adjustments. It affirmed the Arm's Length Price calculation based on LIBOR rates and spread, along with the reduction in corporate guarantee fee. The court also supported the ITAT's deletion of the disallowance of expenses incurred on behalf of another company under section 37(1) of the Act. Additionally, it confirmed the ITAT's allowance of weighted deduction under section 35(2AB) for lunch, refreshment, and brokerage expenses related to R&D activities. Case-Laws Income Tax Tue, 04 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368644