Adani Ports Secures Favorable ITAT Ruling on Depreciation, Guarantee

Adani Ports & Special Economic Zone Ltd Vs Jt. Commissioner of Income Tax (OSD) (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench, has delivered a mixed, yet largely favorable, ruling for Adani Ports & Special Economic Zone Ltd. (APSEZ) in an appeal against the Joint Commissioner of Income Tax (OSD). The Tribunal’s decision addressed two key areas of dispute: the disallowance of depreciation on office expenses and, more significantly, the transfer pricing adjustment related to corporate guarantees extended to an Associated Enterprise (AE). While acknowled...