Extending of Corporate Guarantee to AE Constitutes “International Transaction”: ITAT [Read Order]

Extending - Corporate-Guarantee - AE- Constitutes-International- Transaction-ITAT-TAXSCAN

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that extending corporate guarantee to Associated Enterprise would constitute an international transaction. The assessee, Mastek Ltd was engaged in providing services in the life and annuity which was a vertical of the insurance sector. In order to expand its business in another vertical, the…

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