Since the investment in the shares was made by the assessee out ...

Income Tax

January 5, 2015

Since the investment in the shares was made by the assessee out of interest free funds, such as share application money received, the ordero of the CIT(A) in deleting the disallowance made u/s 14A is upheld - AT

View Source

← Previous Next →

Since the investment in the shares was made by the assessee out ...

Income Tax

January 5, 2015

You may also like:

Disallowance u/s.14A - investment in shares - Assessee had aggregate interest-free funds by way of share capital and reserves which are more than the investment in...

Allowability of financial charges including interest expenditure - The assessee failed to produce documentary evidences, the end use of funds invested in subsidiary,...

Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

Disallowance of interest expenses incurred for non-business purposes - The ITAT found that the interest expenditure claimed by the assessee was allowable due to the...

Assessment of accrued interest on investment – when the amount of unsecured load is converting into share application money and shares have been allotted, no interest...

Share application money cannot be equated with share capital and interest paid on share application money pending its allotment is allowable as revenue expenditure

Addition u/s 68 - unexplained cash credit - share application money receipts - Even though there were circumstances leading to suspicion, yet having taken an action...

Deduction of interest expenditure incurred on borrowed funds u/s 57 - Interest incurred on borrowed funds utilized for making investment in shares in company of...

TP Adjustment - Interest charged on the average share application money advanced by the assessee to the AE - we uphold the deletion of the addition that was made by the...

Addition on account of share application and share premium money u/s 68 - assessee has received share application and share premium money from eleven investor companies...

Disallowance of expenditure u/s 14A read with rule 8D - proportionate disallowance of interest - common pool of funds - if we apply the ratio laid down in the various...

Addition u/s 68 - share application money/share capital and share premium as unexplained - The onus was on revenue to dislodge assessee’s documentary evidences and rebut...

Unexplained cash credit u/s 68 - share application money - amount was received during the earlier years - entries made during the current year for converting deposits...

Addition u/s.69 or 68 - assessee has paid on-money towards purchase of property to the seller - The assessee is only owner of 1/3rd share in the property purchased. -...

Share application money received - No evidence has been brought on record by the Assessing Officer to prove that the share application money emanated from the coffers of...

Quick Updates: