https://www.taxtmi.com/caselaws?id=297963 The Delhi High Court dismissed the Revenue's appeals against the Income Tax Appellate Tribunal's order for three Assessment Years, upholding the decisions regarding the treatment of bank guarantee commission as not interest under Section 2(28A) of the Act and the consistency in the Assessee's accounting method. The Court found no legal basis for disallowing the bank guarantee commission under Section 40(a)(i) of the Act and accepted the Assessee's method of accounting as consistently applied and accepted by the Revenue. en-us Thu, 28 Jul 2016 00:00:00 +0530 Sat, 02 Oct 2021 10:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297963 The Delhi High Court dismissed the Revenue's appeals against the Income Tax Appellate Tribunal's order for three Assessment Years, upholding the decisions regarding the treatment of bank guarantee commission as not interest under Section 2(28A) of the Act and the consistency in the Assessee's accounting method. The Court found no legal basis for disallowing the bank guarantee commission under Section 40(a)(i) of the Act and accepted the Assessee's method of accounting as consistently applied and accepted by the Revenue. Case-Laws Income Tax Thu, 28 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297963