Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Page of 4809
Press 'Enter' after typing page number.
1381 to 1400 of 96177 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Section 43B of the Income Tax Act disallows certain deductions for unpaid statutory dues like interest, tax, duty, etc. The key points are: Unpaid interest on loans from World Bank or State Government is not covered u/s 43B clauses (d), (da), or (e) as these clauses are specific to interest payable to financial institutions, NBFCs, and banks. Explanation 4 to Section 43B clarifies the institutions covered, excluding World Bank and State Government. Therefore, disallowance of unpaid interest on World Bank loan is not justified u/s 43B. Regarding electricity duty collected from consumers, it is not a tax or duty levied on the assessee but part of the commercial transaction of electricity supply. Section 43B is not applicable as the duty is not imposed on the assessee but collected from consumers and remitted to the government. The assessee's appeal is allowed, following the Kerala High Court ruling that Section 43B deals with amounts payable to the sovereign qua sovereign, not qua principal.
Section 43B of the Income Tax Act disallows certain deductions for unpaid statutory dues like interest, tax, duty, etc. The key points are: Unpaid interest on loans from World Bank or State Government is not covered u/s 43B clauses (d), (da), or (e) as these clauses are specific to interest payable to financial institutions, NBFCs, and banks. Explanation 4 to Section 43B clarifies the institutions covered, excluding World Bank and State Government. Therefore, disallowance of unpaid interest on World Bank loan is not justified u/s 43B. Regarding electricity duty collected from consumers, it is not a tax or duty levied on the assessee but part of the commercial transaction of electricity supply. Section 43B is not applicable as the duty is not imposed on the assessee but collected from consumers and remitted to the government. The assessee's appeal is allowed, following the Kerala High Court ruling that Section 43B deals with amounts payable to the sovereign qua sovereign, not qua principal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
