{"id":34025,"date":"2023-04-22T11:01:15","date_gmt":"2023-04-22T05:31:15","guid":{"rendered":"https:\/\/itatonline.org\/digest\/spandana-sphoorty-financial-ltd-v-dcit-2022-196-itd-217-217-ttj-837-214-dtr-121-hyd-trib-2\/"},"modified":"2023-04-22T11:01:15","modified_gmt":"2023-04-22T05:31:15","slug":"spandana-sphoorty-financial-ltd-v-dcit-2022-196-itd-217-217-ttj-837-214-dtr-121-hyd-trib-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/spandana-sphoorty-financial-ltd-v-dcit-2022-196-itd-217-217-ttj-837-214-dtr-121-hyd-trib-2\/","title":{"rendered":"Spandana Sphoorty Financial Ltd. v. DCIT (2022) 196 ITD 217 \/ 217 TTJ 837 \/ 214 DTR 121 (Hyd.)(Trib.)"},"content":{"rendered":"<p>Assessee-NBFC, engaged in micro-financing, had acquired loan from three banks for purpose of its business. It claimed interest paid\u00a0 as deduction which was not paid up to due date for filing of return. Held that since said three banks were included in second schedule to RBI Act, 1934 and fell within meaning of &#8216;schedule bank&#8217;, provision of section 43B(e) would be attracted and, accordingly,\u00a0 disallowance of interest paid on loan is held to be justified.(AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43B : Deductions on actual payment-Business of micro-financing-Acquired loan from three banks-Interest was not paid before due date of filing of return-Disallowance is held to be justified. [S. 43B(e), 139(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-34025","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8QN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34025","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=34025"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34025\/revisions"}],"predecessor-version":[{"id":34026,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34025\/revisions\/34026"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}