2020 (10) TMI 1213 - SCH - Income Tax

TP Adjustment - ALP of the guarantee commission charges provided by the Respondent Co. - Disallowance u/s 36(1)(ii i) - acquisition of business by way of investing into shares of that company through either Special Purpose Vehicle or directly cannot be considered to be ordinary event of the business and therefore, cannot be termed as expenditure incurred for the purpose of assessee s business, which is providing ITES services - HELD THAT Special Leave Petitions are dismissed on the ground of delay.

Summary

The Supreme Court dismissed the Special Leave Petitions due to delay. Case citation: 2020 (10) TMI 1213 - SC Order. Justices: Uday Umesh Lalit, Vineet Saran, S. Ravindra Bhat. Petitioner represented by multiple advocates. Respondent represented by senior advocate and others.