Accrual of income - Addition being notional interest income - ...

Case Laws Income Tax

October 28, 2020

Accrual of income - Addition being notional interest income - Where the principle amount of loan/advance is doubtful of recovery interest thereon cannot be accrued and added to income even under the mercantile system of accounting. - AT

View Source

← Previous Next →

Accrual of income - Addition being notional interest income - ...

Case Laws Income Tax

October 28, 2020

You may also like:

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...

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...

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...

Validity of Reopening of assessment - not charging interest @ 12% on the loans advances - Only because the assessee company did not charge the advance made to the other...

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...

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

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...

Addition of interest attributable on the diversion of loan fund - Once own fund of the assessee exceeds the amount of interest free loans and advances, then a...

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

This summary concerns an appeal before the Income Tax Appellate Tribunal regarding violations of Sections 11 to 13 of the Income Tax Act by a trust. The key points are:...

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...

Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

TP Adjustment - Addition considering the interest free loan and advances to its Associated Enterprises - As assessee got such huge business from its associated...

TP adjustments - Notional interest income on the loan (interest free) - the said notional interest income on the loans advanced by the assessee to its AE would be...

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

Quick Updates: