{"id":7574,"date":"2014-01-31T09:51:58","date_gmt":"2014-01-31T04:21:58","guid":{"rendered":"http:\/\/itatonline.org\/archives\/?p=7574"},"modified":"2014-01-31T09:51:58","modified_gmt":"2014-01-31T04:21:58","slug":"ito-vs-narain-prasad-dalmia-itat-kolkata-for-s-14a-rule-8d2ii-interest-expenditure-on-loans-taken-for-taxable-business-purposes-has-to-be-excluded","status":"publish","type":"post","link":"https:\/\/itatonline.org\/archives\/ito-vs-narain-prasad-dalmia-itat-kolkata-for-s-14a-rule-8d2ii-interest-expenditure-on-loans-taken-for-taxable-business-purposes-has-to-be-excluded\/","title":{"rendered":"ITO vs. Narain Prasad Dalmia (ITAT Kolkata)"},"content":{"rendered":"<table width=\"150\" border=\"0\" align=\"right\">\n<tr>\n<td><a href=\"https:\/\/itatonline.org\/archives\/?dl_id=1159\" onclick=\"if (event.button==0) \r\n     setTimeout(function () { window.location = 'http:\/\/itatonline.org\/downloads.php?varname=dl_id=1159&varname2=Narain_Dalmia_14A_Rule_8D.pdf'; }, 100)\" ><strong>Click here to download the judgement (Narain_Dalmia_14A_Rule_8D.pdf) <\/strong> <\/a><\/p><\/td>\n<\/tr>\n<\/table>\n<p><strong><br \/>\nFor s. 14A\/ Rule 8D(2)(ii), interest expenditure on loans taken for taxable business purposes has to be excluded<br \/>\n <\/strong> <\/p>\n<p>Rule 8D(2)(ii) is very clear that the expenditure on account of payment of interest would be covered in the said Rule only if it is not directly attributable to any particular income or receipt. If the assessee is able to demonstrate that the payment of interest is directly attributable to the assessee\u2019s taxable business activity, it cannot be considered under Rule 8D(2)(\u00edi) of the I.T. Rules and has to be excluded while computing the disallowance u\/s 14A. <\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong><\/p>\n<p>For s. 14A\/ Rule 8D(2)(ii), interest expenditure on loans taken for taxable business purposes has to be excluded<br \/>\n <\/strong> <\/p>\n<p>Rule 8D(2)(ii) is very clear that the expenditure on account of payment of interest would be covered in the said Rule only if it is not directly attributable to any particular income or receipt. If the assessee is able to demonstrate that the payment of interest is directly attributable to the assessee\u2019s business, it cannot be considered under Rule 8D(2)(\u00edi) of the I.T. Rules and has to be excluded while computing the disallowance u\/s 14A<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/itatonline.org\/archives\/ito-vs-narain-prasad-dalmia-itat-kolkata-for-s-14a-rule-8d2ii-interest-expenditure-on-loans-taken-for-taxable-business-purposes-has-to-be-excluded\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4,8],"tags":[],"class_list":["post-7574","post","type-post","status-publish","format-standard","hentry","category-all-judgements","category-tribunal"],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/7574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/comments?post=7574"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/posts\/7574\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/media?parent=7574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/categories?post=7574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/archives\/wp-json\/wp\/v2\/tags?post=7574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}