https://www.taxtmi.com/caselaws?id=292585 The Tribunal directed the Transfer Pricing Officer to consider the arm's length price of the corporate guarantee fee at 0.5% following High Court decisions, resulting in a reduced adjustment. The Tribunal restored the deduction of maintenance expenses to the Assessing Officer for consistency with precedent. It allowed the set-off of interest paid and received by the assessee against tax demands and refunds. The Tribunal ruled in favor of the assessee on various aspects of disallowances under Section 14A, directing specific computations. It allowed the entire payment to a media relations agency as a business expense and recognized a pension payment as a valid business expense based on legal principles and factual evidence. en-us Fri, 07 Aug 2020 00:00:00 +0530 Thu, 31 Dec 2020 13:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292585 The Tribunal directed the Transfer Pricing Officer to consider the arm's length price of the corporate guarantee fee at 0.5% following High Court decisions, resulting in a reduced adjustment. The Tribunal restored the deduction of maintenance expenses to the Assessing Officer for consistency with precedent. It allowed the set-off of interest paid and received by the assessee against tax demands and refunds. The Tribunal ruled in favor of the assessee on various aspects of disallowances under Section 14A, directing specific computations. It allowed the entire payment to a media relations agency as a business expense and recognized a pension payment as a valid business expense based on legal principles and factual evidence. Case-Laws Income Tax Fri, 07 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292585