Payment made to YES Bank for Corporate Guarantee of Joint Venture Company is Business Expenditure: ITAT allows Deduction u/s 37 of Income Tax Act [Read Order]

By Aparna. M - On August 20, 2023 11:30 am - 2 mins read

Payment - YES bank - Payment made to YES bank for corporate guarantee - corporate guarantee - joint venture company - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi bench held that payment made to Yes bank for corporate guarantee of joint venture company is business expenditure .Therefore the bench allowed the deduction claimed under Section 37 of the Income Tax Act, 1961 Assessee Liberty Shoes Ltd , is a publicly listed company engaged in the business…

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