nterest on loan to Managing Director - unless interest payment ...

Case Laws Income Tax

July 1, 2013

nterest on loan to Managing Director - unless interest payment is directly related to the diverted funds, it cannot be said that interest incurred by the assessee was for non business purpose - remit this issue to AO to decide afresh. - AT

View Source

← Previous Next →

nterest on loan to Managing Director - unless interest payment ...

Case Laws Income Tax

July 1, 2013

You may also like:

Penalty u/s 271D - Default u/s 269SS - cash loan(s) availed form its Managing Director in current account - day-to-day emergency expenses - AO directed to examine that...

Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

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...

A recent circular addressed the taxability of loans between related parties or affiliates. The circular clarifies that providing loans between related parties...

Issuance of summons directly to the Managing Director of the petitioner Company without providing the alternative of it being issued to an authorized representative -...

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...

The court interpreted Section 141 of the Negotiable Instruments Act, holding that managing directors and joint managing directors are responsible for the company's...

Levy of penalty u/ss 271D and 271E was challenged - default u/ss 269SS and 269T - assessee received and repaid cash loans from directors and related concerns - assessee...

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...

Deemed dividend u/s 2(22)(e) is not taxable in the hands of the assessee company if it is not a shareholder in the companies that extended loans. It is chargeable to tax...

Disallowance of commission paid to Managing Director and Working Director - it cannot be doubted that the payment of dividend was made in the guise of commission to the directors.

Valuation - related party transaction - The transaction of ₹ 5 lakhs as loan on payment of interest cannot be the reason for holding partnership and private...

Addition of interest on interest free loans advanced by assessee Company to sister concerns/related parties disallowed. Onus on assessee to prove commercial expediency...

Disallowance of payment u/s 43B - Explanation 3C only prohibits an assessee for recognizing the actual payment of interest by converting its interest into loan or...

Clandestine removal - Jurisdiction - The statement of the Managing Director recorded under Section 14 of the Act of 1944 could be relied upon and treated as a relevant...

Quick Updates: