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If Interest Free Funds available it presumed that Investments made from that Available Funds
Case Law Details
- Case Name
- ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-2013, 2013-2014 & 2014-2015
- Courts
- All ITAT, ITAT Delhi
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ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi)
The issue under consideration is whether the disallowance of Interest u/s 36(1)(iii) is justified in law?
In the present case, the assessee company has given interest free loans and advances to related party. The disallowance of interest expenses against these loans have been discussed in the assessment order passed for preceding A.Y. 2011- 2012. By following the same manner, the A.O, therefore, disallowed interest under section 36(1)(iii) of the I.T. Act, 1961.
ITAT states that, the A.O. on made the addition u/s 36(1)(iii) by follo...
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