Home Highlights June 2015 Year 2015 This

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1. Interest expenses u/s 36(1)(iii) - Addition of interest component considering that there is no commercial expediency in lending to sister concerns - AR explained the...

2. Income deemed to accrue or arise in India - interest income - In these years, the interest income has accrued on the deposits kept by the assessees in HSBC bank, Geneva...

3. Deemed dividend addition u/s.2(22)(e) - advances given to sister concern without interest - Transactions were purely out of trading transactions between the two concerns...

4. Valuation - clearance of HTS wire to their sister concern for pressed concrete slippers by the said sister concern - The adjudicating authority below has failed to...

5. Deemed income u/s 69B - notional interest as income on loan/advances to sister concern - Since there is no specific provision in the Income Tax Act for bringing to tax...

6. 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...

7. Interest free loan was advanced to the sister concerned - in the absence of any reference to any business transaction between the assessee and the sister concerns, the...

8. Initiation of CIRP - transaction of Financial Debt or not - Loan taken by the Corporate debtor from the sister concern was assigned by the said sister concern to the...

9. Refund of excess paid duty - The contention of the revenue that since the duty was based on sale value of their sister concern is absolutely incorrect for the reason...

10. Revision u/s 263 - Expenditure incurred on payments to sister concerns u/s 40A(2)(b) - Inaction on the part of the AO has caused prejudice to the Revenue as contemplated...

11. Payment to sister concerns - Addition u/s 40A(2)(b) - license fee, programme amortization-payment - AO has failed to substantiate the allegation that the assessee has...

12. Payment of interest on refund u/s 244A - refund of excess tax deposited u/s 195(2) - assessee is entitled to get interest from the date of payment of such tax - SC

13. Deductibility of interest income from investments u/s 80P(2)(a)(i) of the Income Tax Act for a primary agricultural credit cooperative society. The key points are: The...

14. Interest attributed to the funds diverted to sister-concern - Since no fresh advances were given during the relevant assessment year to the sister concern and when no...

15. Assessment of tax - calculation and clubbing of turnover of two units - sister concern or independent entities - The act of the petitioner herein is an attempt to...