{"id":12165,"date":"2020-09-11T03:22:19","date_gmt":"2020-09-11T03:22:19","guid":{"rendered":"http:\/\/itatonline.org\/digest\/yenepoya-resins-and-chemicals-v-dy-cit-2020423-itr-161-karnhc\/"},"modified":"2021-06-06T11:45:29","modified_gmt":"2021-06-06T06:15:29","slug":"yenepoya-resins-and-chemicals-v-dy-cit-2020423-itr-161-karnhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/yenepoya-resins-and-chemicals-v-dy-cit-2020423-itr-161-karnhc\/","title":{"rendered":"Yenepoya Resins and Chemicals v .Dy CIT (2020)423 ITR 161\/ 196 DTR 427\/ 271 Taxman 271  (Karn)(HC)"},"content":{"rendered":"<p>Dismissing the appeal the Court held that , that the finding of fact recorded by the AO, the CIT(A) and the Tribunal was that the assessee- firm had supplied its finished products to its sister concern and had not insisted upon the sale proceeds and had availed of a letter of credit against the bills and paid interest. This arrangement could not be considered as business prudence and expediency. The interest on borrowed capital was not deductible.( AY.1997-98)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii): Interest on borrowed capital \u2014 Amount used to assist sister concern \u2014 Interest not deductible. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","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":""},"categories":[1],"tags":[],"class_list":["post-12165","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3ad","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12165"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12165\/revisions"}],"predecessor-version":[{"id":18975,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12165\/revisions\/18975"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}