Search Results Page
Search Results
1 - 6 of 6 (0.22 seconds)Section 80G in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income Tax-Iii Baroda vs Gujarat Narmada Valley Fertilizers Co. ... on 17 August, 2015
In support, reliance was placed on
the decision of Hon'ble Bombay High Court in case of Reliance Utilities
& Power Ltd [2009] 313 ITR 340 and decision of Hon'ble Gujarat High
Court in case CIT vs. Gujarat Narmada Valley Fertilizers Co. Ltd. [2014]
221 Taxman 479.
Section 40 in The Income Tax Act, 1961 [Entire Act]
Section 40A in The Income Tax Act, 1961 [Entire Act]
Dcit, Jaipur vs M/S Bhuramal Rajmal Surana(Mfrs.), ... on 21 February, 2017
43. Regarding ground No. 4 of the Revenue's appeal, the facts of the
case are that during the course of assessment proceedings, the AO
observed that the assessee has taken unsecured loan of
Rs. 13,56,69,991/- and has paid interest amounting to Rs.
1,58,28,017/-. It was further observed by the AO that assessee has
advanced an amount of Rs. 42,21,000/- to his sister concern M/s Arpan
Infin Pvt. Ltd., without any interest. A show cause notice was
accordingly issued by the AO as to why interest @ 12% which comes to
31 ITA No. 882 & 906/JP/2012
ACIT, Jaipur vs. Shri Yogendra Khandelwal, Jaipur
Rs. 5,06,520/- be not added to the total income. In response, the
assessee submitted that the proprietor capital is of Rs. 2,52,33,263/-
which is more than the advance given by us and because of
family/sister concern, no interest was charged. The response of the
assessee was however not found satisfactory and interest of Rs.
5,06,520/- was disallowed and brought to tax in the hands of the
assessee.
1