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Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

There is no distinction between discount and premium, the ...

Income Tax

August 11, 2016

There is no distinction between discount and premium, the discount on debentures as well as the premium payable on actual redemption on debentures in future years and the expenditure incurred for issue of such debentures are all held to be revenue expenditure - AT

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  1. Premium paid on redemption of debentures – capital expenditure vs revenue expenditure -actual premium paid upon the redemption of the debentures would have to be...

  2. Disallowance of premium payable on redemption of debentures - addition on account of claim of premium on non-convertible debentures on proportionate basis - the moment...

  3. Addition towards provision for premium on redemption of debentures to book profit u/s 115JB - adjustments to book profit - provision created for premium payable on...

  4. Claim of deduction (expenditure) on account of Premium payable on redemption of debentures - Following the decisin of SC wherein it was held that, "the liability to pay...

  5. Allowability of redemption premium on debentures - liability incurred by the assessee to discharge the liability covered by the debentures at premium is in the year of...

  6. Deduction of premium written off on Govt. Securities - discount on bonds and premiums on redemptions of debentures are allowable as expense proportionately spread over...

  7. Swapping premium - Disallowance u/s 36(1)(viii) - swapping premium is nothing but discounted interest and had originated in the long term finance initially advance -...

  8. Scope of Explanation C of Section 43B - Actual payment of interest or not - Issuance of debenture in lieu of Interest - since Explanation 3C was added in 2006 with the...

  9. Claim of deduction on interest/redemption premium on debentures - The CIT(A) has accepted assessee's explanation that it had quantified the premium as per the agreement...

  10. Initiation of CIRP - The default and its consequences clearly provide that nonpayment of interest towards outstanding NCDs is an 'event of default' and the Debenture...

  11. Rejection of refund claim - amount paid under protest - tax has been included in the gross amount collected as insurance premium or not - The computation of premium is a...

  12. Imposition of the GST - land premium to be payable to the RIADA - Since the applicant has admitted himself that the word upfront means "beforehand" or "before the actual...

  13. Deduction of interest (premium) on Zero Coupon Convertible Bonds(ZCCB) - Disallowances being the proportionate claim of the premium on ZCCBs written off during the...

  14. Allowance of discount on issue of debenture as expenditure – the same is for the business/commercial expediency and hence is allowable expenditure. - AT

  15. Allow ability of discount charges in respect of debentures issued by the assessee while computing income from house property - the difference between the issue price and...

 

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