Disallowance of interest expenses - expense on loan taken from ...

Income Tax

July 2, 2021

Disallowance of interest expenses - expense on loan taken from its 100% Holding Company - Once the details are perused, the obvious conclusion is that there is a clear connection between the money borrowed and its utilization for purposes of business of real estate and infrastructural development carried on by the assessee. - There is no merit in the disallowance made by the AO - AT

View Source

← Previous Next →

Disallowance of interest expenses - expense on loan taken from ...

Income Tax

July 2, 2021

You may also like:

Adhoc disallowance made on account of expenses under the heard vehicle maintenance, interest on car loan, telephone expenses, travelling expenses and depreciation on car...

Disallowance of total contract expenses - required details of contract expense were not submitted before the AO - Therefore, we confirm the order of rejection U/s 145(3) - AT

Foreign travelling expenses - assessee had not furnished details of expenses of wife and children - proportionate disallowance confirmed - AT

Disallowance on work penalty expenses u/s 40(a)(ia) - Whether the work penalty expenses were actually interest expenses liable to provisions of TDS – Held No - HC

Disallowance of conveyance expenses, staff welfare expenses, sundry expenses and traveling expenses - certain expenses were not supported by third party vouchers,...

Disallowance of expenses and interest - When the AO required the assessee to furnish the relevant details, it was the assessee who was at fault. - Neither the AO was...

Disallowance of interest expenses - as observed by AO that assessee-company had advanced interest free loan as advanced out of secured loan availed from the Bank of...

Disallowance of the interest expenditure on the loan taken by the assessee - The transactions are driven by business considerations and are part of the commercial...

Disallowance of travelling expenses - AO while disallowing the expenses has noted that the expenses were incurred on account of trip by cruise ship by director and his...

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...

Quick Updates: