Disallowance u/s 40A - CIT(Appeals) restricted the rate of ...

Income Tax

March 25, 2016

Disallowance u/s 40A - CIT(Appeals) restricted the rate of interest to 15% as against 18% claimed by the assessee - In the case of market loans, no security is given and no paper or other formalities are required to be completed. The unsecured loan is also available at the call and convenience of the assessee as and when required. - Entire interest expense allowed - AT

View Source

← Previous Next →

Disallowance u/s 40A - CIT(Appeals) restricted the rate of ...

Income Tax

March 25, 2016

You may also like:

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...

Disallowance of interest expenditure by applying provisions of section 40A(2)(b) - Specified / Related parties - Difference between the interest paid by assessee at 15%...

Disallowance u/s 40A(3) - when income of the assessee was computed by applying the gross profit rate, there was no need to look into the provision of section 40A(3) - AT

Disallowance of interest paid on loans taken from family members u/s.40A(2) - Interest paid at the rate of 18% per annum on unsecured loans during the relevant period...

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...

Disallowance of expenditure u/s 40A(2) - In the absence of any comparable instance of rendering the similar services/supply of goods, it would not be permissible to...

Disallowance towards Client Maintenance Charges - ‘related party’ - ICICI Bank Ltd. does not fall in the definition of ‘related party’ in terms of Section 40A(2)(b) of...

Addition u/s 40A(2) - disallowance of interest claim of 9% - ITAT has rightly concluded that the provisions like Section 40A are meant to check evasion of tax through...

TP Adjustment - arm’s length price of interest on short term loan granted to the AE - The fact that the assessee has provided a short term loan only for a period of 15...

Addition u/s. 40A(2)(b) - the interest paid by the assessee @ 15% to four related persons was excessive or not - AO has not given any finding in respect of fair market...

Quick Updates: