{"id":2080,"date":"2018-08-24T11:31:13","date_gmt":"2018-08-24T11:31:13","guid":{"rendered":"http:\/\/itatonline.org\/digest\/asia-investments-pvt-ltd-v-acit-2018-63-itr-535-193-ttj-214-mum-trib\/"},"modified":"2018-08-24T11:31:13","modified_gmt":"2018-08-24T11:31:13","slug":"asia-investments-pvt-ltd-v-acit-2018-63-itr-535-193-ttj-214-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/asia-investments-pvt-ltd-v-acit-2018-63-itr-535-193-ttj-214-mum-trib\/","title":{"rendered":"Asia Investments  Pvt  Ltd   v. ACIT  (2018) 63 ITR 535 \/ 193 TTJ 214 (Mum.)(Trib.)"},"content":{"rendered":"<p>Tribunal held that \u00a0finance charges \u00a0was not deductible u\/s 36(1)(iii) as these expenses were not related to the main business activities of the assessee. An alternate plea was made by the assessee to allow finance charges under S. 57(iii) of the Act. So far as alternate plea of the assessee that dividend income earned for the year under consideration is taxable, the corresponding expenditure incurred including interest was allowed on proportionate basis considering the total dividend income earned by the assessee. (ITA.No.7539\/Mum\/2013\/,4779\/Mum\/2014, 62\/Mum\/2014) ( AY. 2003-04 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii):Interest on borrowed capital-Finance Charges- Not deductible as these expenses were not relatable to the main business activity of the assessee. [S.  57(iii)]<\/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":[1],"tags":[],"class_list":["post-2080","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-xy","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2080","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=2080"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2080\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}