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2019 (6) TMI 1438 - ITAT AHMEDABADAddition being upward adjustment while determining Arms Lengths Price under the Transfer Pricing Provision - adjustment was made with respect to “corporate guarantee” provided by the assessee to its associate enterprises - HELD THAT:- As decided in own case [2018 (1) TMI 1564 - ITAT AHMEDABAD] assessee extending corporate guarantees to its AEs, particularly on the facts and in the circumstances of this case and when the assessee has done so in the course of its stewardship activities for its subsidiaries, does not constitute an international transaction, and, as such, no ALP adjustment can be made in respect of the same. Accordingly, entire ALP adjust stands deleted Adjustment made to book profit u/s 115JB in respect of the provision of Sec. 14A - HELD THAT:- While deciding the appeal for A.Y. 2009-10 [2017 (12) TMI 1745 - ITAT AHMEDABAD] the Tribunal has considered this issue wherein the Coordinate Bench has decided the issue in favour of the assessee by drawing support from the decision of the Hon’ble High Court of Gujarat in the case of Alembic Ltd. [2017 (1) TMI 513 - GUJARAT HIGH COURT] Disallowance of employees’ contribution to PF and ESIC - Whether sum deposited beyond the due date prescribed u/s. 36(1)(va) ? - HELD THAT:- A relying on GUJARAT STATE ROAD TRANSPORT CORPORATION [2014 (1) TMI 502 - GUJARAT HIGH COURT] we set aside the issue to the file of the Ld. AO to decide as to whether there is any delay or not and to pass orders strictly in accordance with law after giving an opportunity of being heard to the assessee and upon taking into consideration the evidence on record and the evidences which the assessee may choose to file at the time of hearing.
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