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Standby Letter of Credit charges (SBLC) to M/s. Shalini Properties & Developers Limited was allowable due to commercial expediency; whereas, the CIT(Appeals ... that the payment of Rs.11,75,82,702/- as stand by SBLC to M/s. Shalini Properties & Developers Limited was allowable

Shalini Properties and Developers Pvt. Ltd. as guarantee commission/SBLC charges without deduction of tax at source in terms of Section 194H ... observed that since the guarantee commission/SBLC charges of Rs. 5,87,53,467/- has been shown as income in the hands of the recipient

Micromax Informatics Ltd., New Delhi vs Assessee on 20 February, 2015 IN THE INCOME TAX