{"id":3738,"date":"2019-01-20T13:40:56","date_gmt":"2019-01-20T13:40:56","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-reebok-india-company-2018-409-itr-587-delhihc-editorial-reebok-india-company-v-dy-cit-2017-56-itr-211-delhi-trib-is-affirmed\/"},"modified":"2019-01-20T13:40:56","modified_gmt":"2019-01-20T13:40:56","slug":"cit-v-reebok-india-company-2018-409-itr-587-delhihc-editorial-reebok-india-company-v-dy-cit-2017-56-itr-211-delhi-trib-is-affirmed","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-reebok-india-company-2018-409-itr-587-delhihc-editorial-reebok-india-company-v-dy-cit-2017-56-itr-211-delhi-trib-is-affirmed\/","title":{"rendered":"CIT  v. Reebok India Company. (2018) 409 ITR 587 (Delhi)(HC) Editorial: Reebok India Company v. Dy CIT ( 2017) 56 ITR 211 ( Delhi) (Trib) is affirmed."},"content":{"rendered":"<p>Dismissing\u00a0 the appeal of the revenue the Court held that ,merely because non-interest bearing advances were given to third parties, that would not justify a finding that the test of &#8220;commercial expediency&#8221; was not satisfied. Interest-free advances were advanced to the parties connected with the business of the assessee. Money taken on loan was not diverted for non-business purpose. The unsecured loans were not used for personal purpose. According the interest paid on capital borrowed for the purpose of business had to be allowed as a deduction. (AY.2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) :Interest on borrowed capital -Commercial expediency \u2013 Interest free advance to third parties -Interest paid is held to be allowable as deduction .<\/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-3738","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Yi","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3738","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=3738"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3738\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}