{"id":17966,"date":"2021-05-10T16:50:22","date_gmt":"2021-05-10T11:20:22","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-priyal-international-p-ltd-2020-84-itr-50-sn-ahd-trib\/"},"modified":"2021-05-10T16:50:22","modified_gmt":"2021-05-10T11:20:22","slug":"dy-cit-v-priyal-international-p-ltd-2020-84-itr-50-sn-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-priyal-international-p-ltd-2020-84-itr-50-sn-ahd-trib\/","title":{"rendered":"Dy.CIT v. Priyal International P. Ltd. (2020) 84 ITR 50 (SN) (Ahd.) (Trib.)"},"content":{"rendered":"<p>Tribunal\u00a0 held that the assessee had demonstrated that interest-free funds available to the assessee for making investment were more than interest-bearing funds utilised for investment in earning tax-free income. For application of rule\u00a08D(2), disallowance of expenditure to be considered should be net of interest, i. e., interest paid minus interest received. When the assessee has sufficient interest free funds presumption that investment and advances were made\u00a0 out of such funds and no interest should be disallowed. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 14A : Disallowance of expenditure-Exempt income-Interest-Disallowance of interest on net interest-Higher interest income-No disallowance can be made-Sufficient interest free funds-Presumption that investment and advances were made out of  such funds-No interest to be disallowed. [S. 36(1)(iii), R. 8D]   <\/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-17966","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4FM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17966","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=17966"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17966\/revisions"}],"predecessor-version":[{"id":17967,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17966\/revisions\/17967"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}