https://www.taxtmi.com/caselaws?id=278006 The appeal challenged a Transfer Pricing adjustment related to a corporate guarantee provided by the assessee to its Associated Enterprise (AE). The Tribunal determined the adjustment at 0.5% per annum, considering the benefits brought to the AE by the guarantee. The Tribunal directed the Assessing Officer to quantify the addition and re-compute the assessee's income based on this rate. The decision was influenced by precedent and the ruling in Everest Kanto Cylinders Ltd. Vs. DCIT, where a 0.5% commission rate was upheld by the Bombay High Court. As a result, the appeal was partly allowed on 4th May 2018. en-us Fri, 04 May 2018 00:00:00 +0530 Fri, 04 Jan 2019 06:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278006 The appeal challenged a Transfer Pricing adjustment related to a corporate guarantee provided by the assessee to its Associated Enterprise (AE). The Tribunal determined the adjustment at 0.5% per annum, considering the benefits brought to the AE by the guarantee. The Tribunal directed the Assessing Officer to quantify the addition and re-compute the assessee's income based on this rate. The decision was influenced by precedent and the ruling in Everest Kanto Cylinders Ltd. Vs. DCIT, where a 0.5% commission rate was upheld by the Bombay High Court. As a result, the appeal was partly allowed on 4th May 2018. Case-Laws Income Tax Fri, 04 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278006