Disallowance on account of non- utilisation of loan - @ 14% of ...

Income Tax

July 25, 2019

Disallowance on account of non- utilisation of loan - @ 14% of loan amount - there is nothing on the record that the assessee has diverted interest bearing borrowed funds by granting interest free loans to sister concern and even The turnover of the assessee was increase @ 17% - it cannot be concluded that the assessee used the working capital for other than business purpose - disallowance deleted

View Source

← Previous Next →

Disallowance on account of non- utilisation of loan - @ 14% of ...

Income Tax

July 25, 2019

You may also like:

Disallowance of traveling allowance as exempt u/s 10 (17) - also exemption u/s 10 (14) (i) being unspent amount of traveling allowance - AT

Scope of the term "Wrongly" - Rule 14 of CCR, 2014 - Demand of Interest and penalty - availment of CENVAT and utilization thereof - it is unusual for ‘utilization’ to be...

Directions u/s 168 of the CGST Act regarding non-transition of CENVAT credit u/s 140 of CGST Act or non-utilization thereof in certain cases.

Disallowance of Non-Compete Compensation - Amount paid as non-compete fee being capital out lay, can not be allowed as revenue expenditure - AT

Disallowance of swap charges on loans obtained by the assessee - The utilization of the loans for the purposes of business has not been disputed by the learned DR before...

Assessee has raised loans and paid interest and forwarded the same for non-business consideration therefore the interest from the said amount cannot be allowed as...

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...

Addition u/s 68 - Unsecured Loans - onus to proof - Assessee had also paid interest on the unsecured loan after deducting TDS @20% which reveals that during subsequent...

Validity of reopening of assessment u/s 147 - assessee availed the loan is an accommodation entry provider - The bona fide of the assessee is further proved from the...

Disallowance of interest u/s 36(1)(iii) - if the interest bearing funds have been utilized for the business purpose only as per the terms of the loan and nothing contra...

Quick Updates: