{"id":63836,"date":"2026-08-05T17:21:20","date_gmt":"2026-08-05T11:51:20","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ito-v-harmony-vinimay-p-ltd-2025-123-itr-458-174-taxmann-com-1239-kol-trib\/"},"modified":"2026-08-05T17:21:20","modified_gmt":"2026-08-05T11:51:20","slug":"ito-v-harmony-vinimay-p-ltd-2025-123-itr-458-174-taxmann-com-1239-kol-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ito-v-harmony-vinimay-p-ltd-2025-123-itr-458-174-taxmann-com-1239-kol-trib\/","title":{"rendered":"ITO v. Harmony Vinimay (P.) Ltd. (2025) 123 ITR 458 \/ 174 taxmann.com 1239 (Kol.)(Trib.)"},"content":{"rendered":"<p>The Assessing Officer disallowed interest on the ground that the assessee had borrowed funds at interest while advancing interest-free amounts to land co-owners. The Tribunal held that the advances represented amounts payable to the co-owners towards their share of the project consideration and for another upcoming project. There was, therefore, no question of charging interest from the co-owners and the interest disallowance was rightly deleted. <strong>(<\/strong>AY. 2018-19).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital-Business expenditure-Interest-free advances to land co-owners-Advances towards co-owners&#8217; share of project consideration-Disallowance deleted. [S.37(1)]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-63836","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gBC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63836","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=63836"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63836\/revisions"}],"predecessor-version":[{"id":63837,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/63836\/revisions\/63837"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=63836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=63836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=63836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}