Transfer pricing adjustment @0.6% as arm’s length rate for corporate guarantee fee directed

DCIT Vs KEC International Limited (ITAT Mumbai) ITAT Mumbai directed TPO/ AO to recompute the transfer pricing adjustment by taking rate of 0.6% as arm’s length rate for corporate guarantee fee as against 1.16% determined by TPO/ AO. Facts- The Assessee is a leading Engineering, Procurement, and Construction (EPC) company. The Appellant is engaged in laying of power transmission lines, providing telecommunication infrastructure and tower testing services. The Appellant had project offices in India as well as outside India to execute the erection or installation portion of Transmission Line P...