Home Highlights September 2014 Year 2014 This

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1. Accrual of income - Addition of notional interest @ 10 % on deposit made - interest having neither been accrued to the assessee (as per specific terms of the Agreement...

2. Accrual of income - Taxability of notional interest income credited by the assessee in his profit and loss account as per the requirement of Indian Accounting Standards...

3. Estimation of notional interest income for making the disallowance out of interest expenditure - The ld. AO ought to have not over emphasized about the conduct of the...

4. Accrual of income - addition on account of accrued interest on NPA account as income - the assessee had adequately established that the interest received during the year...

5. Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

6. Accrual of interest - uncertainty - since the assessee was aware of the fact that it will not receive any income as interest, following conservative policy, did not...

7. Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

8. Accrual of interest income - Assessee claims that no real income accrued to the company and merely as the assessee is following mercantile system of accounting it does...

9. Addition of notional interest - if the assessee had not bargained for interest, or had not collected interest, one fails to see how the IT authorities can fix a...

10. Addition on account of accrued interest – There is uncertainty in realizing the principle itself. - no notional interest can be brought to tax. - AT

11. Additions as notional interest pertaining to one of the partners - Debit balance in the account of partner while the assessee is paying interest on bank loan - bringing...

12. Revision u/s 263 - addition on account of notional interest @10% on deposit - The High court upheld the concurrent findings of the ITAT and the CIT(A) that no notional...

13. Accrual of income - income by way of cash incentive accrued to the assessee at the time of filing of the claim in its respect - assessee has not stated any factual...

14. Interest attributed to the funds diverted to sister-concern - Since no fresh advances were given during the relevant assessment year to the sister concern and when no...

15. Addition on account of notional interest - it can be concluded that till the conclusion of sale deed amounts advanced continued to be for acquisition of assets -...