https://www.taxtmi.com/caselaws?id=754371 ITAT Kolkata allowed the assessee's claim for advance tax credit verification, directing the matter back to AO for necessary verification. The tribunal dismissed the assessee's contention that corporate guarantee transactions with associated enterprises are not international transactions, citing Section 92B provisions. However, ITAT granted partial relief on corporate guarantee fee calculation, directing TPO to compute fee at 0.5% instead of the higher rate applied, following judicial precedents establishing 0.2%-0.5% as justified range for such transactions. en-us Mon, 08 Apr 2024 00:00:00 +0530 Fri, 21 Jun 2024 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754371 ITAT Kolkata allowed the assessee's claim for advance tax credit verification, directing the matter back to AO for necessary verification. The tribunal dismissed the assessee's contention that corporate guarantee transactions with associated enterprises are not international transactions, citing Section 92B provisions. However, ITAT granted partial relief on corporate guarantee fee calculation, directing TPO to compute fee at 0.5% instead of the higher rate applied, following judicial precedents establishing 0.2%-0.5% as justified range for such transactions. Case-Laws Income Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754371