{"id":16576,"date":"2021-04-14T11:15:55","date_gmt":"2021-04-14T05:45:55","guid":{"rendered":"https:\/\/itatonline.org\/digest\/global-tech-park-p-ltd-v-acit-2020-184-itd-673-bang-trib-2\/"},"modified":"2021-04-14T11:15:55","modified_gmt":"2021-04-14T05:45:55","slug":"global-tech-park-p-ltd-v-acit-2020-184-itd-673-bang-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/global-tech-park-p-ltd-v-acit-2020-184-itd-673-bang-trib-2\/","title":{"rendered":"Global Tech Park (P.) Ltd. v. ACIT (2020) 184 ITD 673 (Bang.) (Trib.)"},"content":{"rendered":"<p>Assessee paid interest on short term and long term borrowings and claimed deduction for same. Assessing Officer disallowed interest expenditure to extent of diversion of funds for non-business purpose. on appeal the Tribunal held that\u00a0 assessee had not given any evidence with regard to nexus between assessee&#8217;s business and interest free loan\u00a0 accordingly disallowance\u00a0 of interest made by Assessing Officer was\u00a0 held to be justified. (AY. 2014-15, 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Borrowed funds used for giving interest free loan to sister concerns-Interest disallowable., interest on funds diverted for non-business purpose was to be disallowed. <\/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-16576","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4jm","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16576","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=16576"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16576\/revisions"}],"predecessor-version":[{"id":16577,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/16576\/revisions\/16577"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=16576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=16576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=16576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}