{"id":17970,"date":"2021-05-10T16:51:24","date_gmt":"2021-05-10T11:21:24","guid":{"rendered":"https:\/\/itatonline.org\/digest\/assetz-infrastructure-pvt-ltd-v-dy-cit-2020-84-itr-59-sn-bang-trib-3\/"},"modified":"2021-05-10T16:51:24","modified_gmt":"2021-05-10T11:21:24","slug":"assetz-infrastructure-pvt-ltd-v-dy-cit-2020-84-itr-59-sn-bang-trib-3","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/assetz-infrastructure-pvt-ltd-v-dy-cit-2020-84-itr-59-sn-bang-trib-3\/","title":{"rendered":"Assetz Infrastructure Pvt. Ltd. v. Dy.CIT (2020) 84 ITR 59 (SN) (Bang.)(Trib.)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that that the interest-free advances received from customers were available with the assessee to the tune of Rs. 16.96 crores. The interest-free loans given to subsidiary companies were at Rs. 10.26 crores. Since the interest-free funds available with the assessee were more than the interest-free loans given to subsidiaries, it should be presumed that the loans had been given out of the interest-free funds. Accordingly, the Assessing Officer was to delete this disallowance. Followed, CIT v. Brindavan Beverages (P) L td (2017) 393 ITR 261 (Karn.)(HC). (AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Interest-free advances received from customers were available-Interest-free loans given to  subsidiaries-Proportionate disallowance of  interest not  warranted.<\/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-17970","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-4FQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17970","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=17970"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17970\/revisions"}],"predecessor-version":[{"id":17971,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/17970\/revisions\/17971"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=17970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=17970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=17970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}