{"id":23374,"date":"2022-01-06T10:15:59","date_gmt":"2022-01-06T04:45:59","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-gmr-energy-ltd-2021437-itr-240-karn-hc\/"},"modified":"2022-01-06T10:15:59","modified_gmt":"2022-01-06T04:45:59","slug":"cit-v-gmr-energy-ltd-2021437-itr-240-karn-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-gmr-energy-ltd-2021437-itr-240-karn-hc\/","title":{"rendered":"CIT v. GMR Energy Ltd. (2021)437 ITR 240 (Karn.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that\u00a0 borrowed funds not diverted to sister concerns.\u00a0 Allowable as\u00a0 deduction. Followed\u00a0\u00a0 S. A. Builders v. CIT (A)\u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b2007%5d%20288%20ITR%200001\">(2007) 288 ITR 1<\/a>\u00a0(SC) <em>(<\/em>AY.2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Commercial expediency-Borrowed funds not diverted to sister concerns-Allowable as  deduction. [S. 37(1)] <\/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-23374","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-650","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23374","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=23374"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23374\/revisions"}],"predecessor-version":[{"id":23375,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23374\/revisions\/23375"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}