{"id":25937,"date":"2022-03-27T10:59:42","date_gmt":"2022-03-27T05:29:42","guid":{"rendered":"https:\/\/itatonline.org\/digest\/nirmal-industrial-control-p-ltd-v-acit-2021-90-itr-34-sn-mum-trib-2\/"},"modified":"2022-03-27T10:59:42","modified_gmt":"2022-03-27T05:29:42","slug":"nirmal-industrial-control-p-ltd-v-acit-2021-90-itr-34-sn-mum-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/nirmal-industrial-control-p-ltd-v-acit-2021-90-itr-34-sn-mum-trib-2\/","title":{"rendered":"Nirmal Industrial Control P. Ltd. v. ACIT (2021) 90 ITR 34 (SN) (Mum.)(Trib.)"},"content":{"rendered":"<p>Held that\u00a0 when the interest free area available the presumption that the investment was made from own funds hence disallowance of interest is not warranted. While computing the book profit only actual expenses incurred is liable to be excluded. (AY.\u00a0 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 14A : Disallowance of expenditure-Exempt income-Interest free funds-Presumption that the investment was made from own funds-Disallowance of interest is not warranted-Book profit-Only actual expenses incurred is  liable to be  excluded. [S. 115JB(2), R. 8D (2)(ii), 8(2)(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":[21],"tags":[],"class_list":["post-25937","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-6Kl","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25937","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=25937"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25937\/revisions"}],"predecessor-version":[{"id":25938,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/25937\/revisions\/25938"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=25937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=25937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=25937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}