Deemed income u/s 69B - notional interest as income on ...

Case Laws Income Tax

May 13, 2020

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 notional interest as income on loan/advances to sister concern, no additions can be made.

View Source

← Previous Next →

Deemed income u/s 69B - notional interest as income on ...

Case Laws Income Tax

May 13, 2020

You may also like:

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...

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...

Disallowance of interest expenditure - The interest income earned by the assessee is from loans and advances given to sister concern which is shown by the assessee to...

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...

Disallowance of interest expense - loan and advances to sister concerns – Held that:- Rate of interest for advancing the loan to the sister concern was 6% and borrowing...

Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

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...

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...

Disallowance of interest paid to the bank - the appellant/assesse had advanced an interest free loan to its sister concern - there would be a direct benefit on account...

Additions made on notional interest on loans & advances - AO has completely erred in imputing notional interest on loans & advances. As the argument of the assessee that...

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...

Disallowance of proportionate interest u/s 36 (1) (iii) - when assessee had sufficient funds, why should it depend on borrowed funds. In any case, if at a given point of...

Interest expense - The borrowed amount in question was not utilized by the assessee in its own business, but had been advanced as interest-free loan to its...

Interest free advances and loans given to directors & sister concerns for non business purposes - Assessee had interest free funds of its own basis which addition u/s...

Addition of interest on interest free loans advanced by assessee Company to sister concerns/related parties disallowed. Onus on assessee to prove commercial expediency...

Quick Updates: