As the interest paid by assessee is not for any loan or debt but ...

Income Tax

September 11, 2012

As the interest paid by assessee is not for any loan or debt but for the delay in payment of bills for purchases effected cannot be termed as interest as defined u/s. 2(28A) - no disallowance u/s. 40(a)(ia) - AT

View Source

← Previous Next →

As the interest paid by assessee is not for any loan or debt but ...

Income Tax

September 11, 2012

You may also like:

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...

TDS on interest on late payment of bills - interest was paid for the delayed payment of the bills which is outside the purview of the provisions of section 194A - AT

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...

Liability to pay interest on delayed payment of VAT - The assessee was required to pay the tax payable in accordance with the provisions of Section 14 of the HVAT Act...

Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

The assessee was justified in adjusting the interest earned from the interest payments on term loan and the balance of interest paid was capitalized in the books - AT

Disallowance of interest payment converted into FITL (Funded Interest Term Loans) - the impugned ‘funded interest term loan’ is not a loan transaction but assessee’s...

House property - Disallowance of interest claimed on second loan u/s.24(b) - Applicability of DBDT circular - Ld. CIT(A) recorded categorical findings that the assessee...

Addition u/s 37(1) - disallowing interest provided on loan - loan was used to purchase shares - Assessee received loan in earlier years on which interest is also paid...

Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

TP Adjustment - arm’s length price of interest on short term loan granted to the AE - The fact that the assessee has provided a short term loan only for a period of 15...

TP Adjustment - Interest on interest outstanding/interest receivable - The interest on a loan is a compensation received towards the utilisation of funds given by the...

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...

Payment of interest u/s 244A to the deductor on the refund of tax made u/s 240 - Since we have awarded simple interest at 6%, we are not granting any cost in this case....

Quick Updates: