Nature of Interest paid on loans taken - AO directed to exclude ...

AO to Exclude Loan Interest from Closing Stock Valuation; Deduction Allowed u/s 36(1)(iii) of Income Tax Act.

November 8, 2016

Case Laws Income Tax AT

Nature of Interest paid on loans taken - AO directed to exclude the interest incurred on loans from the valuation of closing stock and allow the same as deduction u/s 36(1)(iii) of the Act. - AT

View Source

← Previous Next →

Nature of Interest paid on loans taken - AO directed to exclude ...

AO to Exclude Loan Interest from Closing Stock Valuation; Deduction Allowed u/s 36(1)(iii) of Income Tax Act.

November 8, 2016

Case Laws Income Tax AT

You may also like:

The ITAT allowed the assessee's appeal and held that the disallowance of interest expenditure claimed as a deduction against interest income from the partnership firm...

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

TP adjustment of interest - CIT(A) confirmed upward adjustment towards interest by adopting rupee loan rate instead of LIBOR linked rate in respect of foreign currency...

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...

Revision u/s 263 - Deduction u/s 36(1)(viii) - Insofar as, the second issue of excess allowances of deduction u/s.36 (1)(vii), the assessment order passed by the AO is...

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...

Disallowance of interest u/s 36(1)(iii) towards interest expenditure - allegation that assessee company diverted its “interest bearing funds” for giving “interest free...

The Appellate Tribunal addressed the issue of penalty u/s 271(1)(c) related to the addition of closing stock. The AO levied penalty on an addition u/s 36(1)(iii) that...

Allowability of deduction u/s 36 (1) (iii) - Interest liability on loans received from the State Government - assessee is maintaining the books of accounts on...

Disallowance of proportionate interest u/s. 36(1)((iii) - loan taken for construction of building for the year under consideration on which the assets were not put to...

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...

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

Disallowance of interest u/s 36(1)(iii) - Interest free loans granted - The Co-ordinate Bench of the Tribunal had previously ruled in favor of the assessee on a similar...

Disallowance towards interest expenses incurred on term loans - The loan having been utilized for acquisition of capital asset in the earlier years is thus not an...

Disallowance u/s 36(1)(iii) - where the recovery of principal amount was difficult the addition on account of notional interest on account of loan to said company cannot...

Quick Updates: