{"id":5192,"date":"2019-04-28T14:18:59","date_gmt":"2019-04-28T14:18:59","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-gujarat-cypromet-ltd-2019-412-itr-397-sc-editorial-decision-in-cit-v-gujarat-cypromet-ltd-2019-412-itr-398-guj-hc-is-reversed\/"},"modified":"2019-06-26T00:16:47","modified_gmt":"2019-06-26T00:16:47","slug":"cit-v-gujarat-cypromet-ltd-2019-412-itr-397-sc-editorial-decision-in-cit-v-gujarat-cypromet-ltd-2019-412-itr-398-guj-hc-is-reversed","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-gujarat-cypromet-ltd-2019-412-itr-397-sc-editorial-decision-in-cit-v-gujarat-cypromet-ltd-2019-412-itr-398-guj-hc-is-reversed\/","title":{"rendered":"CIT  v.  Gujarat Cypromet Ltd. ( 2019) 412 ITR 397 \/ 177 DTR 121\/ 262 Taxman 93 \/ 308 CTR 309(SC) Editorial: Decision in CIT v  Gujarat Cypromet Ltd. (2019] 412 ITR 398 (Guj) (HC) is reversed ."},"content":{"rendered":"<p>Allowing the appeal of the revenue the Court held that ;<strong>\u00a0<\/strong>conversion of unpaid interest into funded interest Loan is held to be not allowable as deduction in view of Explanation 3C to section 43B inserted with retrospective effect from 1-4-1989 , by the Finance \u00a0Act , 2006 .<strong>\u00a0\u00a0<\/strong>(AY.2001-02 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 43B : Deductions  on actual payment -Interest payable to Banks \u2014 Conversion of unpaid interest into funded interest Loan- Not allowable as deduction- Explanation 3C to section 43B inserted with retrospective effect from 1-4-1989  by the Finance  Act , 2006 .<\/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-5192","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1lK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5192","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=5192"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5192\/revisions"}],"predecessor-version":[{"id":5947,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5192\/revisions\/5947"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=5192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=5192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=5192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}