{"id":3040,"date":"2018-12-02T09:24:02","date_gmt":"2018-12-02T09:24:02","guid":{"rendered":"http:\/\/itatonline.org\/digest\/muthoot-finance-ltd-v-jcit-2018-408-itr-491-ker-hc-2\/"},"modified":"2019-03-20T01:15:23","modified_gmt":"2019-03-20T01:15:23","slug":"muthoot-finance-ltd-v-jcit-2018-408-itr-491-ker-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/muthoot-finance-ltd-v-jcit-2018-408-itr-491-ker-hc-2\/","title":{"rendered":"Muthoot Finance Ltd.  v. JCIT  (2018) 408 ITR 491 \/ 169 DTR 272 \/( 2019) 306 CTR 396(Ker) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the assessee the Court held that ;the assessee did enter a new line of business, unconnected to its existing business, and it had not by then commenced that new business. Accordingly the interest paid on borrowed amount for acquisition of asset which was not put to use during the relevant year , therefore interest is not allowable .( AY.2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.36(1)(iii): Interest on borrowed capital \u2014 New line of business-Amount must have been used for acquisition of asset and asset must have been used \u2013 Interest is  not allowable.<\/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-3040","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-N2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3040","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=3040"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3040\/revisions"}],"predecessor-version":[{"id":4484,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3040\/revisions\/4484"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}