There is no business incentive involved in the guarantee price that a trust charges small-scale industries for third-party guarantees.
The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that the guarantee fee charged by the trust for providing third-party guarantees to small-scale industries did not amount to a profit motive. The assessee, Credit Guarantee Fund Trust for Micro and Small Enterprises, is an irrevocable trust settled by the President of India, acting through the…
Taxscan Premium
Why should you subscribe?
- Enjoy our website without interruptions from advertisements
- Receive Daily newsletters
- Receive realtime Telegram/Whatsapp news updates
- Download original Judgements / Order / Notifications / Circulars, etc
- Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
₹1199 + GST for 1 year
Subscribe Now
Already Subscribed?
Login Now 
