2021 (9) TMI 1411

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....rate guarantee fee to 0.5% as against 1.5% determined by the Transfer Pricing Officer (TPO, hereinafter). 3. Briefly the facts are, in course of proceedings before the TPO, he noticed that the assessee has provided corporate guarantee to its overseas Associate Enterprise (AE, hereinafter), viz. M/s B.K. Holdings Ltd, Mauritius, which was not reported in 3CEB report. When called upon to explain as to why such transaction relating to provision of corporate guarantee has not been benchmarked, the assessee stated that the transaction being in the nature of shareholders' activity, cannot be regarded as an international transaction. The TPO, however, did not accept the contention of the assessee and proceeded to benchmark the transaction with ....

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....ng officer on account of deduction claimed on employee stock option (ESOP) expenditure. 6. Briefly the facts are, in course of assessment proceedings, the assessing officer noticed that the assessee has debited an amount of Rs.73,53,010/- towards expenditure on account of ESOP. Being of the view that ESOP expenses have not crystallized during the year and has been claimed on notional basis, the assessing officer disallowed the same. Assessee contested the aforesaid disallowance before the first appellate authority. Following her decision in assessee's own case in Assessment Year 2012-13, learned first appellate authority allowed assessee's claim. 7. We have considered rival submissions and perused materials on record. The short issue ....

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....ed an amount of Rs.11,68,95,186/-. Being of the view that the suo motu disallowance made by the assessee is not in accordance with rule 8D, the assessing officer proceeded to compute disallowance in terms of the said rule. In the process, he computed disallowance of Rs.55,77,41,735/- comprising of the following:- I. Direct expenses u/r 8D(2)(i) Rs. 2,02,99,546/- II. Interest expenditure u/r 8D(2)(ii) Rs.40,75,90,511/- III. Administrative expenditure u/r 8D(2)(iii) Rs.11,98,51,678/- After reducing suo motu disallowance computed by the assessee, the assessing officer made a net disallowance of Rs.43,08,46,549/-. Assessee contested the aforesaid disallowance before the first appellate authority. Following the orde....