Home Highlights April 2016 Year 2016 This

You may also like:

1. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

2. Cessation of liability - Additions u/s. 41(1) - waiver towards outstanding principal loan amount - waiver of outstanding principal loan amount is a capital receipt or...

3. 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...

4. Accrual of income - Addition being notional interest income - Where the principle amount of loan/advance is doubtful of recovery interest thereon cannot be accrued and...

5. Addition u/s 41(1) or u/s 28 - waiver of working capital loan - In respect of principal amount, though the assessee has gained the benefit by way of one time settlement...

6. Accrual of interest income - Assessee claims that no real income accrued to the company and merely as the assessee is following mercantile system of accounting it does...

7. Renting of Immovable Property Service - notional interest accruing on the lumpsum amounts received - There is no justification for inclusion of the notional interest in...

8. Demand of interest - the period of limitation that applies to a claim for the principal amount should also apply to the claim of interest thereon.

9. Refund - claim of interest - Period of limitation that applies to a claim for the principal amount should also apply to the claim for interest thereon - AT

10. Claim of Excise Department - Liability to pay Interest on principal amount - co. in liquidation - Claim of interest of the Department (Central Excise) dis-allowed - HC