{"id":2229,"date":"2018-09-06T00:59:32","date_gmt":"2018-09-06T00:59:32","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-keventer-agro-ltd-2018-256-taxman-437-cal-hc-2\/"},"modified":"2018-09-06T00:59:32","modified_gmt":"2018-09-06T00:59:32","slug":"cit-v-keventer-agro-ltd-2018-256-taxman-437-cal-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-keventer-agro-ltd-2018-256-taxman-437-cal-hc-2\/","title":{"rendered":"CIT  v. Keventer Agro Ltd. (2018) 256 Taxman  437 (Cal) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that ; company engaged in business of manufacture and sale of fruit juice and like products entered into an agreement for setting-up of joint venture company with a Central Government agency and a State Government entity was well within purview of business operations of assessee . Accordingly\u00a0 interest paid on funds borrowed by assessee had to be regarded as a payment made for purpose of business of assessee and a permissible deduction. ( AY. 2001-01 , 2003 -04)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) :Interest on borrowed capital -Manufacture and sale of fruit juice and like products- Joint venture  company for production of milk -Interest borrowed for setting up of joint venture is held to be allowable as deduction.<\/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-2229","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-zX","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2229","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=2229"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2229\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}