Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Interest on government loan - Government company - assessee has ...

Income Tax

September 14, 2012

Interest on government loan - Government company - assessee has not paid even a single instalment of either the principal amount or the interest - claim of of deduction as accrual of interest not accepted - AT

View Source

 


 

You may also like:

  1. Allowability of deduction u/s 36 (1) (iii) - Interest liability on loans received from the State Government - assessee is maintaining the books of accounts on...

  2. Interest on loan sanctioned from state government - mercantile system - the liability for payment of interest for all the previous AYs cannot be claimed or allowed in...

  3. 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

  4. 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

  5. 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

  6. 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...

  7. Non deduction of TDS u/s 194A - Loan amount raised from the State Government and the interest payable to the Government - assessee was unable to show that the payment...

  8. Loan from Govt. of India and UP Government, for the purpose of business, hence the interest in question is allowable u/s 36(1) - AT

  9. 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...

  10. 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...

 

Quick Updates:Latest Updates