{"id":28363,"date":"2022-07-12T17:34:42","date_gmt":"2022-07-12T12:04:42","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-core-emballage-ltd-2022-443-itr-157-guj-hc\/"},"modified":"2023-02-02T16:25:08","modified_gmt":"2023-02-02T10:55:08","slug":"cit-v-core-emballage-ltd-2022-443-itr-157-guj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-core-emballage-ltd-2022-443-itr-157-guj-hc\/","title":{"rendered":"CIT v. Core Emballage Ltd. (2022) 443 ITR 157\/ 215 DTR 313\/ 327 CTR 327  (Guj.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal, that the finding of fact as recorded by the Tribunal was that the outstanding amount of interest to the tune of Rs. 2,70,00,000 payable to the ICICI-Ltd. was extinguished by offering shares for which a receipt was also issued by the ICICI-Ltd. by letter dated September 3, 2001.\u00a0 The payment of interest had been made by issue of fully paid up shares to ICICI-Ltd. The Appellate Tribunal was right in law and on facts in directing to allow Rs. 2.70 crores being interest payable to ICICI-Ltd. under section\u00a043B.Followed\u00a0 M.M. Aqua Technologies Ltd. v. CIT (2021) 436 ITR 582 (SC) (AY. 2001-02)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43B : Deductions on actual payment-Interest-The payment of interest had been made by issue of fully paid up shares to ICICI-Ltd-Disallowance of interest is not justified. [S. 260A] <\/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-28363","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7nt","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28363","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=28363"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28363\/revisions"}],"predecessor-version":[{"id":32394,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/28363\/revisions\/32394"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=28363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=28363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}