nterest on loan to Managing Director - unless interest payment ...

Income Tax

July 1, 2013

nterest on loan to Managing Director - unless interest payment is directly related to the diverted funds, it cannot be said that interest incurred by the assessee was for non business purpose - remit this issue to AO to decide afresh. - AT

View Source

← Previous Next →

nterest on loan to Managing Director - unless interest payment ...

Income Tax

July 1, 2013

You may also like:

Penalty u/s 271D - Default u/s 269SS - cash loan(s) availed form its Managing Director in current account - day-to-day emergency expenses - AO directed to examine that...

Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

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...

Issuance of summons directly to the Managing Director of the petitioner Company without providing the alternative of it being issued to an authorized representative -...

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...

TP Adjustment - Interest on interest outstanding/interest receivable - The interest on a loan is a compensation received towards the utilisation of funds given by the...

Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

Valuation - related party transaction - The transaction of ₹ 5 lakhs as loan on payment of interest cannot be the reason for holding partnership and private...

Disallowance of payment u/s 43B - Explanation 3C only prohibits an assessee for recognizing the actual payment of interest by converting its interest into loan or...

Clandestine removal - Jurisdiction - The statement of the Managing Director recorded under Section 14 of the Act of 1944 could be relied upon and treated as a relevant...

Dishonor of Cheque - signatories of the defaulted cheque - Liability of Chairman / Managing Director - Having done that there was no liberty available to the complainant...

Penalty u/s 271E - Company has directly repaid the loan taken from Director to Bank - violation of section 269T - The assessee has demonstrated that under the compulsion...

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...

TP Adjustment - Interest on loans and advances given to the AEs - Interest rates vary and are thus dependent on the foreign currency in which the repayment is to be made...

Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

Quick Updates: