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Interest Expenses

Disallowance of Claim for Interest Expense u/s 36(1)(iii): ITAT Directs AO to Verify Business Nexus and Reassess Deduction [Read Order]

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) directed the Assessing Officer ( AO ) to verify the business nexus of the interest...

Disallowance of Interest Expenses on Alleged Fund Misuse: ITAT Allows Citing Lack of Nexus Between...

Assessee Gets Partial Relief from ITAT as Tribunal sets aside Interest Expenses Addition and Partly...

ITAT allows Interest Expenses claimed u/s 36(1)(iii) towards Loans advanced to subsidiary companies...

Interest Expenses incurred for earning Income from Loans and Advances shall not be Disallowed u/s...

Interest Expenses which are in Nature of Rent Deposit cannot be Disallowed: ITAT [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that Interest expense which is in nature of rent deposit cannot be disallowed. The Revenue appealed against the order of...

Relief to Delhi International Airport: Delhi High Court allows Interest Expenses of 10 Cr [Read Order]

The Delhi High Court allowed interest expenses of Rupees Ten Crores there by granting relief to the Delhi International Airport. The Income Tax Appeal has been filed by the Principal Commissioner...

Interest-Bearing Funds not Utilised for Advancing Funds: ITAT upholds deletion of Interest made u/s 36(1)(iii) [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that interest-bearing funds not utilised for advancing funds and upholds the deletion of interest made u/s 36(1)(iii). The...

Interest Expenses on Fringe Benefits Tax is 'Penal' in Nature, No Deduction: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench comprising Shri Anil Chaturvedi, Accountant Member and Sh. Kul Bharat, Judicial Member has held that the interest expenses on fringe benefit tax...

No Disallowance of Interest Expenses if Investment was made to acquire controlling interest: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that no disallowance can be made for interest expenses if the investment was made to acquire the controlling interest in the...

Setback To Axis Bank: ITAT upholds Disallowance on account of Interest Expenses incurred on Capital Work in progress [Read Order]

In a major setback to the Axis Bank, the Income Tax Appellate Tribunal (ITAT) upheld disallowance on account of interest expenses incurred in respect of capital work in progress. The assessee,...

Interest Expenses claimed by Partners relating to their Professional Activities are allowed Expenses: ITAT deletes Addition [Read Order]

While deleting the addition, the Income Tax Appellate Tribunal (ITAT) Rajkot Bench has ruled that, Interest Expenses claimed by partners relating to their professional activities are allowed...