ITAT deletes Disallowance for Guarantee Commission to Associate Enterprise

Lease Plan India P Ltd Vs ITO (ITAT Delhi)

Introduction: In a recent case, Lease Plan India P Ltd. vs. ITO, before the Income Tax Appellate Tribunal (ITAT) Delhi, the tribunal passed a significant ruling. It deleted the disallowance of deduction claimed by Lease Plan India P Ltd., on account of payment of guarantee commission to an Associated Enterprise, Lease Plan Corporation NV, on the grounds of non-deduction of tax at source.

Analysis: The pivotal issu

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