Disallowance u/s 36(1)(iii) - commercial expediency to give no ...

Case Laws Income Tax

May 30, 2022

Disallowance u/s 36(1)(iii) - commercial expediency to give no interest loans - the assessee’s arguments that there was a running account with the sister concern (viz. another company having common director), which was not demonstrated any business expediency between the assessee company with that of its subsidiary company. - additions confirmed - AT

View Source

← Previous Next →

Disallowance u/s 36(1)(iii) - commercial expediency to give no ...

Case Laws Income Tax

May 30, 2022

You may also like:

Disallowance of interest u/s 36(1)(iii) - Interest free loans granted - The Co-ordinate Bench of the Tribunal had previously ruled in favor of the assessee on a similar...

Disallowance u/s 36(1)(iii) - claim of interest expenditure - The companies GIL and CNIL are subsidiary companies, which clearly indicates that the investment made by...

Disallowance of the interest expenditure on the loan taken by the assessee - The transactions are driven by business considerations and are part of the commercial...

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

Deduction of interest u/s. 36(1)(iii) - loan amount for making investment in shares - During the year under consideration, the Assessee utilized the loan amount for...

Disallowance of interest u/s 36(1)(iii) - interest bearing loans versus advances - as long as commercial expediency is established, there remains no reason for making...

Disallowance of interest as per provisions of Section 36(1)(iii) pertaining to interest free advances made treating the same to be not for the purpose of business of the...

Disallowance u/s 36(1)(iii) on account of interest expense on borrowings - it was neither prudent for the assessee to divert any part of borrowed funds for nonbusiness...

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...

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...

Disallowance u/s 36(1)(iii) - where the recovery of principal amount was difficult the addition on account of notional interest on account of loan to said company cannot...

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...

Disallowance of interest u/s. 36(1)(iii) - Advance given by the assessee to Group Company - As the advance given by the assessee to SIL which was for business purpose...

Disallowance of interest expenditure under section 36(1)(iii) - assessee has a business interest in the sister concern, therefore, advancement of interest free loan to...

Disallowance of interest u/s. 36(1)(iii) - loan borrowed for the purpose of settling outgoing partners’ capital account - The settlement of capital account of outgoing...

Quick Updates: