Addition on account of payment of excessive interest @15% - ...

Case Laws Income Tax

February 8, 2016

Addition on account of payment of excessive interest @15% - there was no scope for application of the test of the reasonableness to a case of payment of interest and therefore the rate of interest could not be scaled down. - AT

View Source

← Previous Next →

Addition on account of payment of excessive interest @15% - ...

Case Laws Income Tax

February 8, 2016

You may also like:

Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount...

Exemption of Gross Interest u/s 10(15) - exemption under section 10(15) was to be allowed on gross interest and not on the net interest - AT

Interest expenses u/s 36(1)(iii) - Addition of interest component considering that there is no commercial expediency in lending to sister concerns - AR explained the...

Addition on account of Repair and Maintenance of Plant and Machinery on estimate basis - sale of scrap - The assessee brought on record a chart of sale made of scrap in...

Interest on refund - Money wrongly attached - the provision of interest in Section 244-A would have no applicability in the present case because it is a case of illegal...

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...

Addition on account of interest income - if assessee does not pay interest for a period of exceeding six months then interest income should not be recognized in its...

Computation of interest under Section 220(2) - Payment of tax on the undisclosed income relating to the block period - Whether surcharge at 15% under Section 113 of the...

Addition under the head SPV charges - Whether part of Corporate Social Responsibility (CSR) activity - sale proceeds of overburden dumps outside sanctioned lease areas -...

Additions towards difference in interest income between interest as per Form 26AS and interest income shown in the Return of Income - Since the alleged accommodation...

Addition u/s 40A(2) - Allegation of Excessive price paid to related parties - The provisions of section 40A(2) of the Act applies for making disallowance of expenses for...

Interest on delayed payment of oil cess - The tribunal concludes that interest cannot be charged on delayed payment of oil cess under Section 11AB of the Central Excise...

Disallowance u/s. 40(A)(2)(b) - excessive salary payment - payment to close associates / related parties - AO can disallow only that portion of the total expenditure,...

Compounding of offence u/s 276-B - application with wrong officer - compounding fees as first application @ 3% OR as second (subsequent) application @ 5% - whether, the...

Addition u/s 40A(2) - assessee has paid interest to certain related parties and treated interest rate @ 15% reasonable and disallowed excess rate paid to related parties...

Quick Updates: