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Interest free loan to AE – Crime?
Case Law Details
- Case Name
- Instrumentarium Corporation Limited, Finland Vs. Assistant Director of Income Tax International Taxation (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2003-04 & 2004-05
- Courts
- ITAT Kolkata
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Why this article-:
1. This article is based on a judicial pronouncement ITAT – KOLKATA SPECIAL BENCH ‘A’, KOLKATA vide its order dated July 15, 2016 in the case of Instrumentarium Corporation Limited, Finland v ADIT -International Taxation I Kolkata.
2. The bench has concluded that, in view of section 92C of the Income Tax Act 1961 related parties cannot have interest free loan transaction.
3. Apparently, the author is not in agreement with this conclusion. It is not necessary that all moratoriums or free services between associated enterprises must be compensated in...
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