Tata Consumer Products Limited vs. Assistant Commissioner of Income Tax

Parties Involved

Facts Summary

This appeal arises from the orders passed by the Assessing Officer (AO) under sections 143(3), 144C(13), and 144B of the Income Tax Act, 1961, dated 29.10.2024. The main issues in this case include the Transfer Pricing adjustment on account of Corporate Guarantee (CG), denial of claim of bonus and EPF under section 43B, short grant of credit for TDS/TCS, and denial of claim under section 80M of the Act. The appellant, Tata Consumer Products Limited, has raised several grounds of appeal against the orders passed by the AO and the Dispute Resolution Panel (DRP). The appellant has also taken additional grounds regarding the denial of claim under section 80M.…

Legal Issues

• 1. Transfer Pricing adjustment on account of Corporate Guarantee (CG).
• 2. Denial of claim of bonus and EPF under section 43B.
• 3. Short grant of credit for TDS/TCS.
• 4. Denial of claim under section 80M of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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