Home Highlights February 2014 Year 2014 This

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1. Deemed dividend u/s 2(22)(e) - AO failed to appreciate that term ‘deposit’ cannot means ‘loan’ or ‘advance’ - these amounts are in nature of Inter Corporate Deposits...

2. Deposit - the inter­corporate deposit/loan, i.e., a loan advanced/deposit made by a company with another company registered under the provisions of the Companies Act,...

3. Inter-corporate deposit is not in the nature of loan or advance within the meaning of section 2(7) and therefore, not chargeable to the interest-tax under section 5 - HC

4. Levy of GST - time of supply - Mobilization Advance received - On reading the Receipt voucher no RTGS 223033 dated 8-2-21, the recipient deducted TDS under Section 51...

5. Disallowance of Interest u/s 36(1)(iii) - interest free loan to related parties - the amount appearing as security deposit is not in the nature of any amount advanced as...

6. Deemed dividend u/s 2(22)(e) - assessee is a major share holder in loan granting company - Advance given for purchase of property - The words “loans or advances”...

7. Scope of Deposits - amounts collected by the petitioners for sale of immovable property as advance - would come under the purview of ‘deposits’ or would exempt from the...

8. Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his...

9. Levy of GST - Services of Membership Association - amounts collected from its members for setting up the 'Sinking Fund'/ Corpus Fund - supply of goods or services or...

10. Construction services – nature of receipt - advance or loan - the appellant’s, have made out a prima facie case for waiver of the pre-deposit of amounts involved - AT

11. Deemed dividend u/s 2(22)(e) - advances being compensation for personal guarantees - as long as it is in nature of loans or advances, and other pre-conditions for...

12. Disallowance of Interest Expenses related to Interest free Advance/loan given to its subsidiary company - The loan advanced to subsidiary company is financed from...

13. Additions made on notional interest on loans & advances - AO has completely erred in imputing notional interest on loans & advances. As the argument of the assessee that...

14. TP Adjustment - associated enterprises (AEs) - Business advances cannot be construed as loan advanced to the assessee company. Once the same is excluded and the loans...

15. Deemed dividend u/s 2(22))e) - repayment of loan or advance by the Company