Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

No infirmity in the order of AO in treating the entire loan ...

Case Laws     Income Tax

March 11, 2015

No infirmity in the order of AO in treating the entire loan processing fee paid for obtaining loan from bank being capital in nature. The assessee however, would be entitled to claim depreciation by capitalizing this figure with the cost of asset acquired by it - AT

View Source

 


 

You may also like:

  1. TDS u/s 194A - processing charges (upfront fee) paid for taking loan from bank - Since, the assessee could not justify the payments without deduction of tax with...

  2. The Supreme Court held that the acquiring bank should pay service tax on the entire Merchant Discount Rate (MDR), which includes the interchange fee payable to the...

  3. Upfront payment of processing fee on the loan - revenue expenditure u/s 37 or capital expenditure - merely because the loan processing charges though paid upfront but...

  4. Disallowing the challan paid in the name of one employee & disallowing the subvend fee paid - CIT-A deleted the addition - as submitted assessee has obtained liquor vend...

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

  6. Unexplained money u/s 69A - Unexplained loan - the loan creditors had deposited cash in their accounts and mostly on the very same day they had transferred the same to...

  7. Computation of capital gains - deduction towards repayment to bank loan which was treated as NPA by the bank - the consideration from sale of property to the extent of...

  8. 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...

  9. Levy of sales tax – turnover - shame transactions for obtaining loan from bank - no real business transaction and the entire transaction was false and forged - demand...

  10. Waiver of loan amount - addition u/s 56(2)(vi) - amount received by the individual or HUF without consideration - It is not just a case where the bank has simply waived...

  11. Addition u/s 68 - proof of identity, creditworthiness and genuineness of the loan obtained - loans have been advanced by the companies through banking channels or from...

  12. Addition u/s 68 - Since the assessing officer treated the unsecured loan as unaccounted received consequent interest was also disallowed. AO without any material...

  13. Notification dated 29.05.2015 issued by Central Government under MSMED Act mandates Banks/NBFCs to follow restructuring process for MSMEs without application. RBI...

  14. Levy of service tax on ATM interchange fees received by State Bank of Hyderabad from SBI for deploying its ATMs in the shared network, and on notional consideration for...

  15. 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...

 

Quick Updates:Latest Updates