Home Highlights May 2014 Year 2014 This

You may also like:

1. 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...

2. Interest expenses u/s 36(1)(iii) - Addition of interest component considering that there is no commercial expediency in lending to sister concerns - AR explained the...

3. Disallowance of interest expense - loan and advances to sister concerns – Held that:- Rate of interest for advancing the loan to the sister concern was 6% and borrowing...

4. Addition towards office rent and office maintenance charges - apportionment of expenses to the sister concerns and group companies - When all the assessee's sister...

5. Penal Charges paid to Sister Concern towards cost of storage - deduction disallowed - AT

6. Disallowance of purchase made from sister concerns - Making disallowance of purchase just because they are from sister concerns/ related parties, Memorandum of...

7. Disallowance of claim of interest expenses u/s. 57(iii) - The Assessing Officer (AO) had disallowed a portion of the interest expenses based on the difference between...

8. While computing annual value of property which has been let out - disallowance made on account of brokerage charges, legal expenses, maintenance charges and insurance...

9. Commitment charges/guarantee commission - if the property of the sister concern of the assessee is pledged for the business purpose of the assessee, the sister concern...

10. Reimbursement of salary expenses of employees to the sister concern, who were deputed by the sister concern to the assessee does not require deduction of tax at source.

11. 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...

12. Interest free loan was advanced to the sister concerned - in the absence of any reference to any business transaction between the assessee and the sister concerns, the...

13. Disallowance u/s 36(1)(iii) - interest expenses - The only plea of the assessee is that the assessee had mortgaged its property to avail bank loans for the sister...

14. Disallowance of interest paid to the bank - the appellant/assesse had advanced an interest free loan to its sister concern - there would be a direct benefit on account...

15. Interest expense - The borrowed amount in question was not utilized by the assessee in its own business, but had been advanced as interest-free loan to its...