Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

Where the assessee has own and borrowed funds, a presumption can ...

Case Laws     Income Tax

April 15, 2016

Where the assessee has own and borrowed funds, a presumption can be made that advances for non-business purposes have been made out of the own funds and that the borrowed funds have not been used for this purpose - Deduction u/s 36(1)(iii)allowed - AT

View Source

 


 

You may also like:

  1. Disallowance of proportionate interest u/s 36 (1) (iii) - when assessee had sufficient funds, why should it depend on borrowed funds. In any case, if at a given point of...

  2. Disallowance of interest - diversion of funds for a non-business purpose - owned fund of the assessee as on 31st March 2013 and 31st March 2014 is more than the amount...

  3. Disallowance of excess interest paid - diversion of funds for non-business purposes - It is immaterial how the loan was treated by the Director - as far as the assessee...

  4. Addition u/s 36(1)(iii) - deduction towards interest paid on loans borrowed for business purposes - Merely for the reason that there is no rental payment for current...

  5. Disallowance u/s.14A in respect of strategic investments made by the assessee - In any case, the undisputed fact is that the borrowed funds has been utilized by the...

  6. Disallowance of interest u/s 36(1)(iii) - The AO had disallowed the interest claimed by the assessee on advances made to its Director, citing a lack of nexus between the...

  7. Interest free advances and loans given to directors & sister concerns for non business purposes - Assessee had interest free funds of its own basis which addition u/s...

  8. Addition of interest attributable on the diversion of loan fund - Once own fund of the assessee exceeds the amount of interest free loans and advances, then a...

  9. Allowability of financial charges including interest expenditure - The assessee failed to produce documentary evidences, the end use of funds invested in subsidiary,...

  10. Disallowance of interest u/s 36(1)(iii) - assessee has a stake in the performance and profit making of wholly owned subsidiaries - it cannot be denied that the...

  11. Disallowance of interest expenditure - diversion of funds for non-business purpose - In order to examine the allowability of interest expenditure on funds borrowed, when...

  12. Disallowance of interest expenses incurred for non-business purposes - The ITAT found that the interest expenditure claimed by the assessee was allowable due to the...

  13. Disallowance of interest made or borrowed funds - Even before us also, general submissions have been made that the amounts have been utilized for commercial expediency...

  14. Disallowance of interest on advances to subsidiaries u/s.40A - AO was of the opinion that the assessee has diverted interest bearing funds to subsidiaries for...

  15. Addition made on account of diversion of fund - disallowance of interest expenses - there cannot be any disallowance of interest expenses provided the own fund of the...

 

Quick Updates:Latest Updates