Disallowance of interest u/s. 36(1)(iii) - partners of the ...

Income Tax

October 11, 2021

Disallowance of interest u/s. 36(1)(iii) - partners of the assessee firm had over withdrawn an amount as in excess of what was brought by them in the firm - the assessee did not have any interest free advances - now when the partners of the assessee firm had clearly over withdrawn an amount in excess of what was brought by them in the firm, therefore, the lower authorities had rightly concluded that the correlating interest expenditure pertaining to the amount so overdrawn was liable to be disallowed u/s.36(1)(iii) - AT

View Source

← Previous Next →

Disallowance of interest u/s. 36(1)(iii) - partners of the ...

Income Tax

October 11, 2021

You may also like:

Disallowance towards interest u/s.36(1)(iii) in the hands of partner - interest paid on borrowed funds - amount invested in partnership firm by the assessee partner is...

Disallowance of interest u/s. 36(1)(iii) - loan borrowed for the purpose of settling outgoing partners’ capital account - The settlement of capital account of outgoing...

Interest expenditure - Since the basic premise with the revenue for making disallowance in the present case U/s 36(1)(iii) was that the assessee had charged less...

The interest expenditure correlating to the interest paid by the assessee firm on the funds borrowed is to be disallowed u/s 36(1)(iii), to the extent, the same were...

Disallowance of interest u/s 36(1)(iii) towards interest expenditure - allegation that assessee company diverted its “interest bearing funds” for giving “interest free...

Disallowance of interest u/s 36(1)(iii) - Interest free loans granted - The Co-ordinate Bench of the Tribunal had previously ruled in favor of the assessee on a similar...

Interest paid to its partners - section 36(1)(iii) is not at all applicable for the purposes of computation of interest to partners under section 40(b) - The interest...

Disallowance of proportionate interest u/s. 36(1)((iii) - loan taken for construction of building for the year under consideration on which the assets were not put to...

Disallowing interest expenditure - interest paid resulting in loss under the head “income from other sources‟ - even though the assessee has claimed that it has...

Disallowance of interest as per provisions of Section 36(1)(iii) pertaining to interest free advances made treating the same to be not for the purpose of business of the...

Quick Updates: