https://www.taxtmi.com/caselaws?id=306011 The High Court upheld the ITAT's decision regarding the adjustment of arm's length price of guarantee and the allowance of a business loss on investment in a subsidiary. The court refused to entertain the challenge to the adjustment percentage, emphasizing that it did not raise a question of law. Regarding the business loss, the court agreed with the ITAT that it was a revenue expenditure under Section 37 due to the purpose of the investment for business expansion. The appeal was dismissed, affirming the ITAT's decision in both issues. en-us Wed, 15 Dec 2021 00:00:00 +0530 Thu, 05 Jan 2023 08:24:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306011 The High Court upheld the ITAT's decision regarding the adjustment of arm's length price of guarantee and the allowance of a business loss on investment in a subsidiary. The court refused to entertain the challenge to the adjustment percentage, emphasizing that it did not raise a question of law. Regarding the business loss, the court agreed with the ITAT that it was a revenue expenditure under Section 37 due to the purpose of the investment for business expansion. The appeal was dismissed, affirming the ITAT's decision in both issues. Case-Laws Income Tax Wed, 15 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306011