Home Highlights April 2016 Year 2016 This

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1. Cessation of liability - Additions u/s. 41(1) - waiver towards outstanding principal loan amount - waiver of outstanding principal loan amount is a capital receipt or...

2. 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...

3. Initiation of CIRP - financial debt - interest of three quarters which accrued and became payable as a debt - the application filed under Section 7 of the Code could be...

4. Addition u/s 41(1) or u/s 28 - waiver of working capital loan - In respect of principal amount, though the assessee has gained the benefit by way of one time settlement...

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

6. 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...

7. Accrual of interest income - Assessee claims that no real income accrued to the company and merely as the assessee is following mercantile system of accounting it does...

8. Waiver of loan amount - when a portion of the loan is waived, the total amount of loan shown on the liabilities side of the balance sheet is reduced and the amount shown...

9. Claim of interest on refund of "penalty amount and interest paid thereon" - Petitioner had paid interest on outstanding amount of penalty. On deletion of penalty,...

10. Interest on sticky advances – accrual of income - provision of interest on doubtful debts - the interest income relatable to NPA advances did not accrue to the assessee - AT

11. Unexplained peak cash loan - interest expenses on the money borrowed in cash - it is a fact on record that the impugned amount of interest as well as the amount of loan...

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 of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his...

14. Additions towards amount of TDS deducted on interest - accrual of interest income but not received - Merely because the borrower has deposited TDS amount that itself...

15. TP Adjustment - Notional interest - interest-free advances extended by the assessee to its AE - In an uncontrolled condition and between persons other than associated...