{"id":3442,"date":"2018-12-28T11:20:10","date_gmt":"2018-12-28T11:20:10","guid":{"rendered":"http:\/\/itatonline.org\/digest\/acit-v-janak-global-resources-pvt-ltd-chd-trib-www-itatonline-org\/"},"modified":"2018-12-28T11:20:10","modified_gmt":"2018-12-28T11:20:10","slug":"acit-v-janak-global-resources-pvt-ltd-chd-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-janak-global-resources-pvt-ltd-chd-trib-www-itatonline-org\/","title":{"rendered":"ACIT v. Janak Global Resources Pvt. Ltd. (Chd.)(Trib), www.itatonline.org"},"content":{"rendered":"<p><strong>Dismissing the appeal of the revenue the Tribunal held that, presumption is that the advance\u00a0 to sister concern is made from own funds is good law .Dept&#8217;s argument that Maxopp Investment Ltd v.CIT ( 2018) 402 ITR 640 (SC) \/Avon Cycles\u00a0 Ltd. v. CIT (P &amp; H (HC)\u00a0 (ITA No. 277 of 13 ) overrules the presumption that advances to sister concerns are made from own funds and not borrowed funds is not correct hence no disallowances can be made. <\/strong>\u00a0(ITA No. 470\/Chd\/2018, dt. 16 .10.2018)(AY.2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Mixed funds-Presumption is that the advance  to sister concern is made from own funds -Dept&#8217;s argument that Maxopp Investment Ltd v.CIT ( 2018) 402 ITR 640 (SC) \/ Avon Cycles  Ltd. v. CIT ( P&#038;H (HC)  (ITA No 277 of 13) overrules the presumption that advances to sister concerns are made from own funds and not borrowed funds is not correct- No disallowances can be made.<\/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-3442","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Tw","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3442","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=3442"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3442\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}