Disallowance u/s.36(1)(iii) - borrowed amount was invested in ...

Tax Deduction Allowed: No Need to Prove Income from Investments u/s 36(1)(iii) of Income Tax Act.

July 2, 2019

Case Laws Income Tax AT

Disallowance u/s.36(1)(iii) - borrowed amount was invested in shares of a associate company - all the details of investments and working of interest paid has been provided to the Department - asking evidences that income will be generate to the assessee at this stage is not the requirement of Section 36(1)(iii) fistly and secondly it is just asking for some hypothetical evidences - deduction allowable

View Source

← Previous Next →

Disallowance u/s.36(1)(iii) - borrowed amount was invested in ...

Tax Deduction Allowed: No Need to Prove Income from Investments u/s 36(1)(iii) of Income Tax Act.

July 2, 2019

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...

Allowable deduction of interest paid on the borrowings - Section 14A and Section 36(1)(iii) - Exempted dividend income - Based on the discussions and findings, the court...

Interest expense u/s 36(1)(iii) - investment in the holding company - The investment of the borrowed funds by the assessee in MHICL is for business purpose, as such, the...

ITAT ruled favorably on multiple issues for the banking assessee. The tribunal allowed deduction under s.36(1)(viia) for NPA provisions, holding them equivalent to...

Deduction allowable u/s 36 (1)(iii) - assessee has not commenced any business activity and no deduction is allowable u/s 36 (1) (iii) in respect of interest expenditure...

Deduction of interest u/s. 36(1)(iii) - loan amount for making investment in shares - During the year under consideration, the Assessee utilized the loan amount for...

Penalty u/s 271(1)(c) - disallowance u/s. 36(1)(iii) - In fact, the assessee at the time of assessment proceedings has given a detailed calculation related to interest...

Delay in employee contribution to P.F. - Disallowance u/s 36(1)(va) read with section 2(24)(x) - The onus is on the assessee to prove that it is eligible for deduction...

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...

Deduction u/s 36(1)(viii) - Whether assessee is eligible for deduction u/s 36(1)(viii) even though the assessee is not an eligible entity under the provisions of the Act...

Deduction u/s 36(1) (viia) - section 36(1) (viia) clearly provides for deduction of 7.5 % of the total income and a further deduction of 10 % of the aggregate of...

The High Court held that the assessee, a banking company, is entitled to exclude interest earned from securities on an accrual basis for income tax purposes. It can...

Deduction u/s 36(1)(iii) - double deduction for deduction of interest - once these amounts are allowed as deduction in the year of incurring the expenditure, the same...

The ITAT partly allowed the assessee's appeal. Travel expenses were partly disallowed by 30% considering personal element, while 70% were allowed as business expenses...

Claim of interest expenditure - Nexus between investments and borrowed funds - A clear and direct nexus has to be established between the loan funds and the investments...

Quick Updates: