Guarantee fee paid to holding company for loan advanced by assessee company to third party is business expediency: ITAT allows deduction u/s 37 of Income Tax Act [Read Order]

By Aparna. M - On September 11, 2023 6:30 pm - 2 mins read

Guarantee fee paid -holding company for loan advanced by assessee company - business expediency -ITAT - deduction- Income Tax Act - taxscan

The Income Tax Appellate Tribunal (ITAT) Mumbai bench held that guarantee fees paid to the holding company for loan advanced by assessee company to third party is business expediency. Therefore the bench allowed the deduction claimed under Section 37 of the Income Tax Act . Assessee, Rabo India Finance Ltd’ had given a loan to…

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