https://www.taxtmi.com/caselaws?id=468209 Belated employee provident fund contributions are not deductible where remittance is beyond the due date under the welfare law, even if paid before the income-tax return due date. Outstanding trade receivables from associated enterprises may be treated as a separate international transaction under section 92B and benchmarked by reference to LIBOR with an appropriate spread, after allowing the agreed credit period. Corporate guarantees to associated enterprises are also treated as international transactions requiring arm's length benchmarking, with commission assessed at 0.5% rather than commercial bank guarantee rates. The note therefore records sustained disallowance for provident fund delay and transfer pricing relief on receivables and guarantee commission. en-us Fri, 19 May 2023 00:00:00 +0530 Wed, 22 Apr 2026 17:22:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468209 Belated employee provident fund contributions are not deductible where remittance is beyond the due date under the welfare law, even if paid before the income-tax return due date. Outstanding trade receivables from associated enterprises may be treated as a separate international transaction under section 92B and benchmarked by reference to LIBOR with an appropriate spread, after allowing the agreed credit period. Corporate guarantees to associated enterprises are also treated as international transactions requiring arm's length benchmarking, with commission assessed at 0.5% rather than commercial bank guarantee rates. The note therefore records sustained disallowance for provident fund delay and transfer pricing relief on receivables and guarantee commission. Case-Laws Income Tax Fri, 19 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468209