Finance Lease Accounting Doesn’t Decide Tax Treatment as Ownership Remains With Lessor

TVS Supply Chain Solutions Ltd. Vs DCIT (ITAT Chennai) Corporate Guarantee TP Adjustment Upheld Because It Is a Separate International Transaction;  Bad Debt Deduction Allowed Because Actual Write-Off Is Sufficient After Section 36 Amendment: ITAT The ITAT Chennai disposed of cross appeals filed by the assessee and the Revenue against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2017-18. The assessee challenged the transfer pricing adjustment relating to a corporate guarantee issued to its Singapore associated enterprise (AE), while the Revenue contested the delet...