https://www.taxtmi.com/caselaws?id=384533 Corporate guarantee commission was benchmarked at 0.5% of the loan advanced to associated enterprises, following the assessee's own earlier years and the Everest Kanto Cylinder principle, so the adjustment was restricted accordingly. Salary expenditure for developing the travel booking engine and SAP software was treated as revenue in nature because it improved an existing business through technology upgradation rather than creating a new asset or business line, and was allowed. AIR tour sales mismatch, foreign tax credit, TDS credit and dividend distribution tax credit were all remitted for verification and consequential action after consideration of supporting records and pending rectification applications. en-us Mon, 22 Jul 2019 00:00:00 +0530 Wed, 14 Aug 2019 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384533 Corporate guarantee commission was benchmarked at 0.5% of the loan advanced to associated enterprises, following the assessee's own earlier years and the Everest Kanto Cylinder principle, so the adjustment was restricted accordingly. Salary expenditure for developing the travel booking engine and SAP software was treated as revenue in nature because it improved an existing business through technology upgradation rather than creating a new asset or business line, and was allowed. AIR tour sales mismatch, foreign tax credit, TDS credit and dividend distribution tax credit were all remitted for verification and consequential action after consideration of supporting records and pending rectification applications. Case-Laws Income Tax Mon, 22 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384533