{"id":3894,"date":"2019-02-09T07:07:37","date_gmt":"2019-02-09T07:07:37","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-ltu-v-reliance-industries-ltd-2019-410-itr-466-sc-editorial-order-of-bombay-high-court-in-cit-ltu-v-reliance-industries-ltd-ita-nos-1550-1592-1775-and-1881-of-2014-dt-22-08-2017-2\/"},"modified":"2019-03-31T12:58:58","modified_gmt":"2019-03-31T12:58:58","slug":"cit-ltu-v-reliance-industries-ltd-2019-410-itr-466-sc-editorial-order-of-bombay-high-court-in-cit-ltu-v-reliance-industries-ltd-ita-nos-1550-1592-1775-and-1881-of-2014-dt-22-08-2017-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-ltu-v-reliance-industries-ltd-2019-410-itr-466-sc-editorial-order-of-bombay-high-court-in-cit-ltu-v-reliance-industries-ltd-ita-nos-1550-1592-1775-and-1881-of-2014-dt-22-08-2017-2\/","title":{"rendered":"CIT (LTU)  v. Reliance Industries Ltd. (2019) 410 ITR 466\/ 175 DTR 1 \/ 307 CTR 121\/ 261 Taxman 165 (SC) Editorial : Order of Bombay High Court in CIT (LTU)  v. Reliance Industries Ltd.( ITA Nos 1550\/ 1592\/ 1775 and 1881 of 2014 dt 22-08 2017, 23 -08 2017 is affirmed( 2018) 161 DTR 420 \/ (2019) 410 ITR 468 (Bom.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that, Interest-free funds available with assessee\u00a0 is sufficient to meet investment. Presumption is that investments in subsidiaries were out of interest free funds accordingly no disallowance can be made .\u00a0 \u00a0( AY. 2003 -04 to 2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) :Interest on borrowed capital &#8211; Interest-free funds available with assessee  is sufficient to meet investment \u2014 Presumption is that investments in subsidiaries were out of interest free funds \u2014 No disallowance 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-3894","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-10O","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3894","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=3894"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3894\/revisions"}],"predecessor-version":[{"id":4655,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3894\/revisions\/4655"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}