2018 (9) TMI 1832

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....JIT DEY, J.M. Aforesaid appeal has been filed by the Revenue challenging the order dated 21st October 2016, passed by the learned Commissioner (Appeals) for the assessment year 2012-13. 2. The issue in the present appeal is confined to the direction of the learned Commissioner (Appeals) to apply the commission rate of 0.5% to the corporate guarantee provided to the Associated Enterprise (AE). 3....

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.... AEs called upon the assessee whether any commission was charged on such guarantee. In response, it was submitted by the assessee that no guarantee commission has been charged, since, providing such guarantee did not fall within the meaning of international transaction as per section 92B of the Act. The Transfer Pricing Officer, however, did not find merit in the submissions of the assessee and he....

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....learned Departmental Representative relied upon the observations of the Transfer Pricing Officer. Whereas, the learned Authorised Representative strongly supported the decision of the learned Commissioner (Appeals). 6. We have considered rival submissions and perused materials on record. At the outset, we must observe, whether provision of corporate guarantee comes within the ambit of internation....