Disallowance of interest expenditure - As per AO interest ...

Case Laws Income Tax

September 7, 2020

Disallowance of interest expenditure - As per AO interest attributable to bring the inventory to its present location and condition should be included in the cost of inventory - CIT(A) deleted the disallowance - the method of valuation adopted by the assessee also gets support from Accounting Standard – 2 issued by ICAI - No additions - AT

View Source

← Previous Next →

Disallowance of interest expenditure - As per AO interest ...

Case Laws Income Tax

September 7, 2020

You may also like:

Disallowance of interest - Valuation of inventory - There is no such provision in section 145A(A) to include interest cost in the value of inventory - Therefor...

Disallowance u/s 14A - Disallowance made on account of interest expenditure - AO has not made any disallowance on account of interest expenditure u/s 14A of the I.T. Act...

Disallowance u/s 14A - rule 8D(2)(ii) clearly is worded in the negative with the words “not directly attributable”. Thus for bringing any interest expenditure, claimed...

Disallowance of an expenditure incurred representing the interest paid - case was selected for limited scrutiny on different issues - A.O. has not made any...

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...

Entertainment tax subsidy - capital or revenue receipt - disallowance u/s. 37 - AO made ad hoc disallowance u/s. 37 @ 10% of expenditure. However, the said disallowance...

Disallowance u/s 14A read with Rule 8D - In any case, as per section 14A(3) whether or not the assessee has incurred any expenditure for earning exempt income, a part of...

Disallowance of interest expenditure u/s 57 - nexus between the interest income vis-à-vis the interest expenditure - no nexus between the impugned income and interest...

Penalty 271(1)(c) - deduction of interest out of ‘income from other sources’ - The AO has admitted the claim of interest expenditure to the extent of interest income and...

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...

Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the...

Disallowance of interest expenditure - interest expenditure is wholly and exclusively for the purpose of earning interest income. - AO directed to grant the deduction of...

Disallowance of interest u/s 36(1)(iii) towards interest expenditure - allegation that assessee company diverted its “interest bearing funds” for giving “interest free...

Nature of expenditure - Disallowance of expenditure under the "head repairs and maintenance"- AO rejected the assessee's contention and held that the assessee is...

Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

Quick Updates: