{"id":29241,"date":"2022-08-30T10:11:58","date_gmt":"2022-08-30T04:41:58","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-tamil-nadu-water-investment-co-ltd-2022-286-taxman-600-mad-hc\/"},"modified":"2022-10-02T10:42:54","modified_gmt":"2022-10-02T05:12:54","slug":"cit-v-tamil-nadu-water-investment-co-ltd-2022-286-taxman-600-mad-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-tamil-nadu-water-investment-co-ltd-2022-286-taxman-600-mad-hc\/","title":{"rendered":"CIT v. Tamil Nadu Water Investment Co. Ltd. (2022)  446 ITR 546  \/286 Taxman 600 (Mad.)(HC)"},"content":{"rendered":"<p>Tribunal allowed assessee&#8217;s claim on ground that promoters were not covered by definition of &#8216;public financial institution&#8217; as per Explanation 4 to section 43B and thus, provisions of section 43B(d) read with Explanation 3C would not be attracted in assessee&#8217;s case where interest liability was accrued but not paid. Court held that since Tribunal had not verified whether IL&amp;FS was a public financial institution or not and merely held that both promoters were not covered under definition of &#8216;public financial institutions&#8217;, orders were to be set aside and matter was to be remanded to Assessing Officer. (AY. 2003-04 to 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43B : Deductions on actual payment-Loan from its two promoters, Government of Tamil Nadu and IL&amp;FS-Public financial institutions-Matter remanded to Assessing Officer. [S. 254(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-29241","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-7BD","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29241","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=29241"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29241\/revisions"}],"predecessor-version":[{"id":29979,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/29241\/revisions\/29979"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=29241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=29241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}