https://www.taxtmi.com/caselaws?id=801152 Scrutiny notices under the Income-tax Act need not follow an administrative format where statutory requirements are met and no prejudice arises. Corporate guarantees constitute international transactions requiring arm's length benchmarking; bank-guarantee quotations are not directly comparable to parent-company guarantees, and separate guarantee transactions cannot be netted without proof of close linkage and arm's length character. Certified segmental accounts may require verification before rejecting internal TNMM in favour of external comparables for finished-goods sales. Capital-loss carry-forward depends on timely filing in the year of loss, rather than a later-year belated return, while unabsorbed depreciation carries forward independently, subject to statutory and quantum verification. en-us Thu, 27 Aug 2026 00:00:00 +0530 Fri, 16 Oct 2026 05:20:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801152 Scrutiny notices under the Income-tax Act need not follow an administrative format where statutory requirements are met and no prejudice arises. Corporate guarantees constitute international transactions requiring arm's length benchmarking; bank-guarantee quotations are not directly comparable to parent-company guarantees, and separate guarantee transactions cannot be netted without proof of close linkage and arm's length character. Certified segmental accounts may require verification before rejecting internal TNMM in favour of external comparables for finished-goods sales. Capital-loss carry-forward depends on timely filing in the year of loss, rather than a later-year belated return, while unabsorbed depreciation carries forward independently, subject to statutory and quantum verification. Case-Laws Income Tax Thu, 27 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801152