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H: Demand and Recovery u/s 74 - Cross state adjustment of unutilized inpu...
H: Validity of SCN - Denial of Input Tax Credit - complete mismatch betwe...
H: Condonation of delay in filing appeal - requirement of mandatory pre-d...
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H: Deemed dividend under section 2(22)(e) - assessee claimed that advance...
H: Disallowing excess directors remuneration - sum paid towards directors...
H: Nature of expenditure - Disallowing revenue expenditure on product tes...
H: Correct head of income - Characterization of income - rental income as...
H: Gain on sale of plot - capital Income or business income - assessee is...
H: Initiation of CIRP - Period of limitation - Article 137 of the Limitat...
C: Deposit of tax during the course of search, inspection or investigation.
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F: Input Reversal on Capital Goods
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F: IGST Mechanism and availability of ITC
India projects itself as a reliable partner, stable economy and an att...
DEA organises a 2-day workshop on Awareness Building and Guidance on u...
A: Reporting of Export Value and Taxes in Wrong Table of GSTR 3B being Te...
A: LATEST CASE LAWS IN ARBITRATION
A: RECENT DEVELOPMENTS IN GST
A: Can CA be arrested- Section 69 vs. Section 132 of the CGST Act
C: Guidelines on import of gold by Qualified Jewellers as notified by – T...
N: Amendment in Export Policy of sugar
N: ADD on Decor Paper originating in or exported from China PR - Seeks to...
N: Amendment in import policy of Paper and incorporation of policy condit...
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Income Tax - Highlights / Catch Notes
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Income Tax - Disallowance of interest expenditure - alleging that the...

Income Tax
20-1-2022

Disallowance of interest expenditure - alleging that the assessee was unable to establish that the interest expenditure was incurred for the purpose of business - The onus is entirely on the assessee to establish on record that the interest expenditure claimed as deduction was incurred for the purpose of business. The assessee having failed to do so, the claim cannot be allowed. - AT

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