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Income Tax - Highlights / Catch Notes

Home Highlights December 2013 Year 2013 This

Whether there is notional income on advances given to closely ...

Income Tax

December 11, 2013

Whether there is notional income on advances given to closely associated group - There is no statutory obligation on the assesse that the assessee must charge interest on the advance amounts - HC

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  1. TP Adjustment - Notional interest - interest-free advances extended by the assessee to its AE - In an uncontrolled condition and between persons other than associated...

  2. TP adjustment - notional interest - short term advances made by the assessee to its associated enterprises - The assessee being unable to establish with evidence the...

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