{"id":49196,"date":"2024-12-28T10:36:58","date_gmt":"2024-12-28T05:06:58","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-central-v-shapoorji-pallonji-and-co-ltd-2024-300-taxman-182-sc-editorial-pcit-central-v-shapoorji-pallonji-and-co-ltd-2024-164-taxman-com-707-bomhc-2\/"},"modified":"2024-12-28T10:36:58","modified_gmt":"2024-12-28T05:06:58","slug":"pcit-central-v-shapoorji-pallonji-and-co-ltd-2024-300-taxman-182-sc-editorial-pcit-central-v-shapoorji-pallonji-and-co-ltd-2024-164-taxman-com-707-bomhc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-central-v-shapoorji-pallonji-and-co-ltd-2024-300-taxman-182-sc-editorial-pcit-central-v-shapoorji-pallonji-and-co-ltd-2024-164-taxman-com-707-bomhc-2\/","title":{"rendered":"PCIT, Central v. Shapoorji Pallonji and Co. Ltd. (2024) 300 Taxman 182 (SC) Editorial : PCIT, Central v. Shapoorji Pallonji and Co. Ltd. (2024) 164 taxman.com 707 (Bom)(HC)"},"content":{"rendered":"<p>Assessing Officer disallowed interest paid on borrowed capital on ground that assessee had advanced interest free funds. Tribunal deleted the disallowance. On appeal\u00a0 High Court held that where assessee had not utilized interest bearing borrowed funds for making interest-free advances as assessee had its own interest-free fund far in excess of interest-free advance, disallowance of interest on borrowed capital was to be deleted. SLP filed\u00a0 by the Revenue is dismissed.(AY. 2011-12)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Own interest free funds-Order of  High Court affirming the order of the Tribunal is up held-SLP of Revenue is dismissed.[Art. 136] <\/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-49196","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cNu","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49196","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=49196"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49196\/revisions"}],"predecessor-version":[{"id":49197,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/49196\/revisions\/49197"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=49196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=49196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=49196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}