Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
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Section 43B(e) was held inapplicable to interest payable by a co-operative society on deposits from its own members, because the clause covers only interest on loans or advances from the specified institutions. The liability had accrued during the year and was recorded under the governing co-operative law, so the expenditure was allowable on accrual basis under section 37(1). The Tribunal also noted that the assessee's entitlement to deduction under section 80P(2)(a)(i) had already been affirmed, and any enhanced business profits arising from the disallowance would also qualify for deduction under section 80P. The addition was deleted.
Section 43B(e) was held inapplicable to interest payable by a co-operative society on deposits from its own members, because the clause covers only interest on loans or advances from the specified institutions. The liability had accrued during the year and was recorded under the governing co-operative law, so the expenditure was allowable on accrual basis under section 37(1). The Tribunal also noted that the assessee's entitlement to deduction under section 80P(2)(a)(i) had already been affirmed, and any enhanced business profits arising from the disallowance would also qualify for deduction under section 80P. The addition was deleted.
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