Disallowance the interest paid at the rate of difference between ...

Interest Disallowance Rejected: AO Fails to Prove Violation of Section 36(1)(iii) Conditions in Sister Concerns Loan Case.

August 27, 2013

Case Laws Income Tax AT

Disallowance the interest paid at the rate of difference between two average rates (of borrowing funds and lending funds from and to sister concerns) - AO has not pointed out as to how the conditions of section 36(1)(iii) have been violated in this case - No disallowance - AT

View Source

← Previous Next →

Disallowance the interest paid at the rate of difference between ...

Interest Disallowance Rejected: AO Fails to Prove Violation of Section 36(1)(iii) Conditions in Sister Concerns Loan Case.

August 27, 2013

Case Laws Income Tax AT

You may also like:

The ITAT allowed the assessee's appeal and held that the disallowance of interest expenditure claimed as a deduction against interest income from the partnership firm...

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...

The ITAT partly allowed the assessee's appeal. Travel expenses were partly disallowed by 30% considering personal element, while 70% were allowed as business expenses...

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...

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

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

The ITAT held that the assessee's transactions did not fall within the provisions of speculative transactions u/s 43(5) as the ultimate settlement was through actual...

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...

Key legal principles and decisions related to various disallowances and additions made by the Assessing Officer (AO) under different sections of the Income Tax Act. The...

ITAT ruled in favor of assessee regarding interest disallowance under Section 36(1)(iii). AO's contention of interest-free advances from interest-bearing funds was...

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 u/s 36(1)(iii) on account of interest expense on borrowings - it was neither prudent for the assessee to divert any part of borrowed funds for nonbusiness...

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...

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...

Deduction u/s 35(2AB) for in-house Research and Development (R&D) expenses was disallowed as the assessee failed to properly explain the basis of claim and reconcile the...

Quick Updates: