![Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Interest-Loan-party-business-Income-Tax-Act-taxscan.jpg "Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]")
Interest from Loan given to related party for Business purpose does not attract section 40A(2)(b) of the Income Tax Act: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the interest received on loan given to related party for business purpose...
![Addition against Salaried Person towards Loan taken for Foreign Studies of Daughter: ITAT slams Dept for taking a Pedantic Approach [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Salaried-Person-Loan-Foreign-Studies-Daughter-ITAT-slams-Dept-taxscan.jpeg "Addition against Salaried Person towards Loan taken for Foreign Studies of Daughter: ITAT slams Dept for taking a Pedantic Approach [Read Order]")
![ITAT disallows Fees paid towards Investment Advisory Services as Assessee only furnished Debit Note, no other Documentary Evidences [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/ITAT-fees-Investment-Investment-Advisory-Services-assesse-furnished-debit-note-debit-note-Debit-documentary-evidences-Taxscan.jpg "ITAT disallows Fees paid towards Investment Advisory Services as Assessee only furnished Debit Note, no other Documentary Evidences [Read Order]")
![Repayment of Loan shall be allowed as Application of Income If the Cost of Assets purchased out of Loan was not allowed, Rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/11/Repayment-of-Loan-Application-of-Income-Cost-of-Assets-Loan-ITAT-Taxscan.jpg "Repayment of Loan shall be allowed as Application of Income If the Cost of Assets purchased out of Loan was not allowed, Rules ITAT [Read Order]")
![ITAT deletes Addition as Interest on Loan duly paid by Assessee after deducting TDS [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/10/ITAT-TDS-Taxscan.jpeg "ITAT deletes Addition as Interest on Loan duly paid by Assessee after deducting TDS [Read Order]")
Bank can’t withhold Original Documents of Property for dues of Another Loan taken under PMMY have not been paid: Gujarat High Court [Read Judgment]
The Gujarat High Court held that a bank cannot withhold original documents of property even after receiving the entire payment on a home loan on the grounds that dues of another loan taken under...
Loan to Corporate Person Free of Interest to be classified Financial Debt: Supreme Court [Read Judgment]
The Supreme Court ruled that the loan to Corporate Person free of interest to be classified Financial Debt. The issue raised in the appeal is whether a person who gives a term loan to a Corporate...
![Loan to Corporate Person Free of Interest to be classified Financial Debt: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/07/Loan-Corporate-Person-free-of-interest-Financial-Debt-Supreme-Court-Taxscan.jpeg "Loan to Corporate Person Free of Interest to be classified Financial Debt: Supreme Court [Read Judgment]")
![Loan Amount can’t be Taxed as it is a liability and not Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/04/Loan-liability-income-ITAT-Taxscan-1.jpg "Loan Amount can’t be Taxed as it is a liability and not Income: ITAT [Read Order]")
11th Instalment of Rs.6,000 crore released to the States as back to back loan to meet the GST compensation shortfall
The Ministry of Finance has released the 11th weekly installment of Rs.6,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of Rs.5,516.60 crore has been released...
No Disallowance of Interest Expenditure if Interest-Free Funds are more than Value of Investments and Loan Funds haven’t used to make Investments: ITAT
The Income Tax Appellate Tribunal (ITAT) Bangalore bench while remitting the matter back to the Assessing Officer (AO) said that if the interest-free funds available with the assessee is more than...
Notional Interest Income on Loan, would be assessable as Income of assessee having Business Connection/PE in India: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai held that the notional interest income on the loan (interest-free) that was advanced by the assessee to its AE in relation to Abacus Distribution...
![Notional Interest Income on Loan, would be assessable as Income of assessee having Business Connection/PE in India: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/07/notional-interest-income-assessee-loan-ITAT-Taxscan.jpg "Notional Interest Income on Loan, would be assessable as Income of assessee having Business Connection/PE in India: ITAT [Read Order]")