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HomeDirect TaxSettlement Payment Of Corporate Guarantee Given To Subsidiary – Allowable As Business...

Settlement Payment Of Corporate Guarantee Given To Subsidiary – Allowable As Business Expenditure: ITAT

Direct Tax

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By Mariya Paliwala
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The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that the settlement payment of corporate guarantee given to subsidiary – allowable as business expenditure under section 37(1) of the Income-tax Act. The bench of Satbeer Singh Godara (Judicial Member) and Naveen Chandra (Accountant Member) has allowed the deduction of ₹47.64 crore incurred…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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