{"id":9479,"date":"2020-02-06T09:16:33","date_gmt":"2020-02-06T09:16:33","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-concentrix-services-i-p-ltd-2019-267-taxman-625-bom-hc\/"},"modified":"2020-02-06T09:16:33","modified_gmt":"2020-02-06T09:16:33","slug":"pcit-v-concentrix-services-i-p-ltd-2019-267-taxman-625-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-concentrix-services-i-p-ltd-2019-267-taxman-625-bom-hc\/","title":{"rendered":"PCIT v. Concentrix Services (I) (P.) Ltd. (2019) 267 Taxman 625 (Bom.)(HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that interest expenditure and finance expenditure incurred on loans taken for investment in acquiring controlling interest in a foreign subsidiary which is n same line of business of assessee so as to expand the business in foreign country is held to be allowable expenditure. Followed CIT v Srishti securities (P) Ltd.\u00a0 (2010) 321 ITR 498 (Bom.)(HC)\u00a0 (AYs. 2008-09, 2009-10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) : Interest on borrowed capital\u2013Interest and finance charges-loans taken for investment in acquiring controlling interest in a foreign subsidiary which is  in same line of business-Allowable as expenditure. [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_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-9479","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2sT","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9479","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=9479"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9479\/revisions"}],"predecessor-version":[{"id":9480,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/9479\/revisions\/9480"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=9479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=9479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=9479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}