Nature of Interest paid on loans taken - AO directed to exclude ...

Income Tax

November 8, 2016

Nature of Interest paid on loans taken - AO directed to exclude the interest incurred on loans from the valuation of closing stock and allow the same as deduction u/s 36(1)(iii) of the Act. - AT

View Source

← Previous Next →

Nature of Interest paid on loans taken - AO directed to exclude ...

Income Tax

November 8, 2016

You may also like:

Interest u/s 36(1)(iii) - Loans borrowed for expansion of business - Net unit established - Interest paid on the loan will have to be treated as revenue in nature - HC

Interest subsidy received under the Technology Upgradation Fund Scheme – utilized for repayment of loans taken by the assessee to set up the new unit - held as capital...

Nature of payment (expenses) made to bank for converting rupee loan into foreign currency loan - The assessee was benefited as the interest rate was reduced - held as...

Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

Dis-allowance u/s 14A of notional interest paid on loan taken for capital contribution in partnership firm - partnership firm - provisions of section 14A are not...

Deduction of interest from rental income - loan was taken for the purpose of construction of house property - looking to the fact that the assessee took a housing loan...

Taxability of interest on sticky loans - Interest on such loans would have to be accounted for and paid as and when it is realised - HC

Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his...

Tds u/s 194A - interest for late payment - interest was not actually in the nature of interest which was paid on the loan taken but actually it is of nature of purchase...

Disallowance u/s 40A(2) - taking loans from sister concerns on interest @6% to 7% and giving loans on interest further @4% - ITAT rightly directed the AO disallow...

Quick Updates: