https://www.taxtmi.com/caselaws?id=390474 The Tribunal dismissed both the Revenue's appeal and the assessee's cross objections. It held that the Arm's Length Price determination for the corporate guarantee was not applicable for the assessment year due to the non-retrospective nature of the Explanation to Section 92B. Additionally, the Tribunal found no evidence supporting the Revenue's claim that the corporate guarantee affected the enterprise's financial aspects. The cross objections were rejected due to a significant delay in filing without adequate justification. en-us Tue, 31 Dec 2019 00:00:00 +0530 Fri, 03 Jan 2020 13:07:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390474 The Tribunal dismissed both the Revenue's appeal and the assessee's cross objections. It held that the Arm's Length Price determination for the corporate guarantee was not applicable for the assessment year due to the non-retrospective nature of the Explanation to Section 92B. Additionally, the Tribunal found no evidence supporting the Revenue's claim that the corporate guarantee affected the enterprise's financial aspects. The cross objections were rejected due to a significant delay in filing without adequate justification. Case-Laws Income Tax Tue, 31 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390474