Disallowance of interest paid to the bank as well as to the ...

Income Tax

April 30, 2016

Disallowance of interest paid to the bank as well as to the other parties - Revenue authorities have failed to bring on record any cogent evidence and material to show that the borrowed funds have been utilized for the purposes of investment and were not used for the business purposes - claim allowed - AT

View Source

← Previous Next →

Disallowance of interest paid to the bank as well as to the ...

Income Tax

April 30, 2016

You may also like:

Clandestine removal - on the basis of third party records - As Revenue has failed to produce any supporting evidence in their favour, therefore, the charge of...

Disallowance of provision for warranty & maintenance expenses - it was for the Revenue to have brought incriminating material/evidences to demolish the basis of...

Disallowance of Commission - Paid to firm in which director has substantial interest - the firm has earned the commission only from the assessee & not from any other...

Investment from undisclosed source, USL, interest disallowance - All the bank statements of the loan parties have been duly submitted before the AO. The revenue has not...

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 made being Specified Bank Notes deposited in the bank account of the assessee - whether the assessee had sufficient cash balance in its books for making the...

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...

Foreign exchange hedging loss - AO has failed to bring any material evidence on record to support its stand that the loss suffered by the Assessee was speculative loss - AT

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...

Release of attached petitioner's cash credit account with the Bank of Baroda - the amount paid by reversing input tax credit, the interest of the Revenue is sufficiently...

Quick Updates: