![Interest-free or Concessional Loan from Employer taxable as Perquisite: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/04/Loan-Taxscan.jpg "Interest-free or Concessional Loan from Employer taxable as Perquisite: ITAT [Read Order]")
Interest-free or Concessional Loan from Employer taxable as Perquisite: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) recently held that the interest-free or concessional loan from employer are taxable as...
![Currency in which the Loan is to be Re-Paid determines the Rate of Return on the Money Lent: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/01/Commercial-Transaction-Loan-Taxscan.jpg "Currency in which the Loan is to be Re-Paid determines the Rate of Return on the Money Lent: ITAT [Read Order]")
![Benefit Received in the Nature of Cash or Money from Waiver of Loan is Non-Taxable under Section 28(iv) of IT Act: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2016/08/Supreme-Court-of-India-Taxscan.jpg "Benefit Received in the Nature of Cash or Money from Waiver of Loan is Non-Taxable under Section 28(iv) of IT Act: Supreme Court [Read Judgment]")
ITAT Confirms Penalty since Assessee failed to Prove that the Loan was accepted in Cash due to Business Exigencies
While hearing the case between Shri Prodyut Dhar and J.C.I.T, Kolkata bench of Income Tax Appellate Tribunal (ITAT) confirmed the penalty since the assessee failed to prove that the loan amount which...
Loan from Closely held Company to pay Salary is ‘Commercial Transaction’ for the purpose of ‘Deemed Dividend’: ITAT [Read Order]
The Hyderabad bench of ITAT recently declared that any loan taken from the closely held company to discharge the payment of salary is ‘commercial transaction’ for the purpose of ‘Deemed Dividend’...
Deposit made by Subscriber of Inter Corporate Deposit, issued by Company on Fixed Rate of Interest, cannot be treated as Loan: ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal recently declared that deposit made by subscriber of Inter Corporate Deposit, issued by company on fixed rate of interest, cannot be treated as...
Loan to Directors for Purchase of Land is not ‘Deemed Dividend’ since the Land was Transferred to the Company: ITAT [Read Order]
The Income Tax Appellate Tribunal, Visakhapatnam, recently ruled that advances given to the directors of a Company for purchase of land cannot be treated as ‘deemed dividend’ under section 2(22)(e) of...
Loan from a Company wherein the Partners of the Firm are Shareholders is not ‘Deemed Dividend’, Not Taxable in the hands of Firm: ITAT Delhi [Read Order]
In Business Strategy Group v. ACIT, the ITAT, Delhi held that the loan obtained from a Company wherein the partners of the Assessee-Firm are the shareholders cannot be termed as ‘deemed dividend’ of...