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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

UP Sahakari Chini Mill Sangh Limited and Sakkar Vikash Nikdhi ...


UP Sahakari Chini Mill Sangh Not a Public Financial Institution: Section 4A(2) Companies Act, 1956 Implications.

April 11, 2016

Case Laws     Income Tax     AT

UP Sahakari Chini Mill Sangh Limited and Sakkar Vikash Nikdhi are not covered by the definition of Public Financial Institutions / State Finance Institutions/ State Industrial Finance Institutions as defined u/s. 4A(2) of the Companies Act, 1956 and therefore provisions of section 43B(d) of the I.T. Act are not attracted - Disallowance of accrued interest not paid in respect of secured / unsecured loans taken from various institutions of UP Government allowed - AT

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