{"id":20318,"date":"2021-07-21T10:51:38","date_gmt":"2021-07-21T05:21:38","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-e-city-investments-and-holdings-company-p-ltd-2020-117-taxmann-com-123-bom-hc-editorial-slp-of-revenue-is-dismissed-pcit-v-e-city-investments-and-holdings-company-p-ltd-2020\/"},"modified":"2021-07-21T10:51:38","modified_gmt":"2021-07-21T05:21:38","slug":"pcit-v-e-city-investments-and-holdings-company-p-ltd-2020-117-taxmann-com-123-bom-hc-editorial-slp-of-revenue-is-dismissed-pcit-v-e-city-investments-and-holdings-company-p-ltd-2020","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-e-city-investments-and-holdings-company-p-ltd-2020-117-taxmann-com-123-bom-hc-editorial-slp-of-revenue-is-dismissed-pcit-v-e-city-investments-and-holdings-company-p-ltd-2020\/","title":{"rendered":"PCIT v. E City Investments and Holdings Company (P.) Ltd. (2020) 117 taxmann.com 123 (Bom.)(HC) Editorial : SLP of revenue is dismissed, PCIT v. E City Investments And Holdings Company (P.) Ltd. (2020) 272 Taxman 90 (SC)"},"content":{"rendered":"<p>Dismissing\u00a0 the\u00a0 appeal of the revenue the Court held that\u00a0 order of Tribunal allowing the<strong> \u00a0<\/strong>claim for deduction of interest on borrowed fund when the same is utilised to give interest free loan\/share application money to subsidiary companies is held to be allowable as deduction. Followed\u00a0 S.A. Builders Ltd.\u00a0v. CIT (2007) 228 ITR 1 (SC)<em>. <\/em>(AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Loan given to sister concern-Without charging interest-Disallowance of interest was held to be not valid. <\/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-20318","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-5hI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20318","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=20318"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20318\/revisions"}],"predecessor-version":[{"id":20319,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/20318\/revisions\/20319"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=20318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=20318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=20318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}