ITAT directs to allow Deduction on claim of Guarantee provided by trust to lending institution [Read Order]

Mumbai ITAT orders deduction on claim of trust-provided guarantee to lending institution
By Aparna. M - On December 11, 2023 7:00 am - 2 mins read
ITAT Deduction on claim of Guarantee provided by trust lending institution - TAXSCAN

The Income Tax Appellate Tribunal (ITAT) Mumbai bench directed the allowance of a deduction for the claim of guarantee provided by the Credit Guarantee Fund Trust for Micro and Small Enterprises, an irrevocable trust settled by the President of India through the Ministry of Small Scale Industry (SSI) & Average Rate Index (ARI), Government of…

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