Home Highlights January 2014 Year 2014 This

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1. Accrual of interest income - nonoperational sticky loans in respect of which mercantile actual of interest was shown in the suspense account and not the profit and loss...

2. Real estate development company advanced loans to its Indian subsidiary for funding step-down foreign subsidiaries undertaking real estate projects. Interest paid on...

3. Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

4. Interest accrued on non performing assets - Applicability of sec 43D - It serves no purpose that the assessee, which is a non-scheduled bank, should include the...

5. Addition on interest accrued on sticky loans and advances - Under the mercantile system of accounting an income accrues when there is reasonable certainty for realising...

6. 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...

7. 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...

8. Assessment of notional interest on loans - loan has been granted by the assessee to its sister concern - As per the provisions of Sec. 36(1)(iii) AO could have...

9. TP Adjustment - Interest on loans and advances given to the AEs - Interest rates vary and are thus dependent on the foreign currency in which the repayment is to be made...

10. 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...

11. Interest u/s 36(1)(iii) - Loans borrowed for expansion of business - Net unit established - Interest paid on the loan will have to be treated as revenue in nature - HC

12. 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...

13. Disallowance u/s 43B - it is not a case of conversion of outstanding interest into the loan so that the same could be allowed only on the actual payment, more...

14. Accrual of income - Taxability of notional interest income credited by the assessee in his profit and loss account as per the requirement of Indian Accounting Standards...

15. 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...