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Income Tax - Highlights / Catch Notes

Home Highlights August 2016 Year 2016 This

There is no distinction between discount and premium, the ...

Income Tax

August 11, 2016

There is no distinction between discount and premium, the discount on debentures as well as the premium payable on actual redemption on debentures in future years and the expenditure incurred for issue of such debentures are all held to be revenue expenditure - AT

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  1. Premium paid on redemption of debentures – capital expenditure vs revenue expenditure -actual premium paid upon the redemption of the debentures would have to be...

  2. Claim of deduction (expenditure) on account of Premium payable on redemption of debentures - Following the decisin of SC wherein it was held that, "the liability to pay...

  3. Disallowance of premium payable on redemption of debentures - addition on account of claim of premium on non-convertible debentures on proportionate basis - the moment...

  4. Addition towards provision for premium on redemption of debentures to book profit u/s 115JB - adjustments to book profit - provision created for premium payable on...

  5. Allowability of redemption premium on debentures - liability incurred by the assessee to discharge the liability covered by the debentures at premium is in the year of...

  6. Scope of Explanation C of Section 43B - Actual payment of interest or not - Issuance of debenture in lieu of Interest - since Explanation 3C was added in 2006 with the...

  7. Initiation of CIRP - The default and its consequences clearly provide that nonpayment of interest towards outstanding NCDs is an 'event of default' and the Debenture...

  8. Imposition of the GST - land premium to be payable to the RIADA - Since the applicant has admitted himself that the word upfront means "beforehand" or "before the actual...

  9. Debentures, whether fully or partly or optionally convertible, are nothing but debt till the date of conversion and any interest paid on these debentures is allowable as...

  10. EXEMPTIONS - INTEREST ON BONDS/DEBENTURES - NOTIFIED BONDS OR DEBENTURES OF PUBLIC SECTOR COMPANIES - Ntf. No. 52/2011 Dated: September 23, 2011

 

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