Dismissing the appeal of the revenue , the Court held that ; Prior to its amendment with effect from 2-6-2016 , amount of expenditure by way of interest would be interest paid by assessee on borrowings minus taxable interest earned during financial year . (AY. 2008-09)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 14A : Disallowance of expenditure – Exempt income -Net interest- Prior to its amendment with effect from 2-6-2016 , amount of expenditure by way of interest would be interest paid by assessee on borrowings minus taxable interest earned during financial year [ R.8D ]
\nDismissing the appeal of the revenue , the Court held that ; Prior to its amendment with effect from 2-6-2016 , amount of expenditure by way of interest would be interest paid by assessee on borrowings minus taxable interest earned during financial year . (AY. 2008-09)
\nNirma Credit & Capital (P.) Ltd (2017) 85 taxmann.com 72 \/ ( 2018) 300 CTR 286 (Guj HC)<\/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-717","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/717","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=717"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/717\/revisions"}],"predecessor-version":[{"id":995,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/717\/revisions\/995"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}