{"id":14532,"date":"2020-12-23T09:07:56","date_gmt":"2020-12-23T09:07:56","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dcit-v-repco-home-finance-pvt-ltd-2020-117-taxmmann-com-233-chennai-trib\/"},"modified":"2021-03-31T18:28:26","modified_gmt":"2021-03-31T12:58:26","slug":"dcit-v-repco-home-finance-pvt-ltd-2020-117-taxmmann-com-233-chennai-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dcit-v-repco-home-finance-pvt-ltd-2020-117-taxmmann-com-233-chennai-trib\/","title":{"rendered":"DCIT v. Repco Home Finance Pvt Ltd ( 2020)   83 ITR 530  \/  183 ITD 782 \/ 117 taxmmann.com 233 ( Chennai) (Trib)"},"content":{"rendered":"<p>Tribunal held that if the borrower fails to use a \u2018plot loan \u2018 received for purchase of a plot land and construct a residential house thereon , then the said loan shall be treated as a \u2018commercial loan\u2019 and the assessee will not be entitle to claim the deduction . However as the ITAT has not examined in detail whether the loans were actually utilised for constructing \/purchasing residential houses within\u00a0\u00a0 then stipulated time period and hence the issue remanded to the file of the AO for fresh examination and determination of deduction u\/s 36(1)(vii) of the Act . ( ITA No. 2885\/ Chny\/ 2017 dt 17 -6 -2020 ) ( AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(viii) : Eligible business  &#8211; Business of providing long term finance for construction or purchase of houses in India &#8211;  AO is directed to examine the issue [ S.254(1)<\/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":[21],"tags":[],"class_list":["post-14532","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Mo","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14532","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=14532"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14532\/revisions"}],"predecessor-version":[{"id":16220,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14532\/revisions\/16220"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}