Sponsored

Interest paid on borrowed capital allowable if used for commercial expediency

Sandeep Jain 14 Dec 2006 2,466 Views 0 comment Print Income Tax | Judiciary

Case Law Details

Case Name : S.A. Builders Ltd Vs. CIT (Appeals) Chandigarh & Anr. (Supreme Court)

Related Assessment Year : 1991-92

Courts : Supreme Court of India

Become a Premium member to Download. If you are already a Premium member, Login here to access.

Sponsored

S.A. Builders Ltd Vs. CIT (Appeals) Chandigarh & Anr. (Supreme Court)

Interest paid on borrowed capital is an allowable expenditure u/s 36(1)(iii) even if not used for own business but used for commercial expediency .

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Tags:

supreme court judgements

Kindly Refer to Privacy Policy & Complete Terms of Use and Disclaimer.

Author Bio

Name: Sandeep Jain

Qualification: LL.B / Advocate

Company: S.K. Jain and Co.

Location: Faridabad, Haryana, India

Member Since: 16 May 2019 | Total Posts: 131

I am S.K.Jain , Tax Consultant cum Advocate practising in Income Tax , GST , Company Matters . The name of the concern is S.K. Jain and Co. and I am prop. of this concern . I am in practice for the last 30 years . Professionals and non professional can feel free to contact me on mail . My mail ID is View Full Profile

My Published Posts

Draft Submissions: No Specific Default Date, No Section 271(1)(b) Penalty Draft Submissions on Section 148A(b) Notice Issued Based on wrong Information Draft Submission- No Section 271(1)(c) penalty when no specific limb been mentioned Sample Grounds for ITAT Appeal: Condonation of Delay under Sec. 249(3) Post CIT(A)’s Rejection Draft Format of letter for filing objection to Section 148 Income Tax notice View More Published Posts

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Sponsored

Penny Stock & Manipulated Transactions: ITAT denies LTCG Exemption Claim

HC Upholds Addition on Bogus Share Transactions Due to Rapid, Structured Dealings

Section 68 Addition justified if Share purchase & sale transactions were deemed bogus

No LTCG Exemption on Sale of Shares if Purchase was Bogus: ITAT Mumbai

LTCG exemption cannot be denied on penny stock sale without adverse evidence

Share Transactions Proven Genuine Cannot Be Declared Bogus Without Evidence

Prisoners Are Not Chattels: Delhi HC

CBI Arrests IRS Officer for Sabotaging Faceless Tax Assessment Scheme

Excise Duty: Cross-Examination Rights Upheld by Supreme Court

Farrah Marker vs ITO: Section 68 Addition on Penny Stock Sale deleted

Sponsored

Ads Free tax News and Updates

CBI Arrests IRS Officer for Sabotaging Faceless Tax Assessment Scheme

Excise Duty: Cross-Examination Rights Upheld by Supreme Court

Off-Market Share Transactions Backed by Evidence cannot be treated as illegal or sham

ITAT Mumbai deletes ₹103 Crore Addition for Auto Driver

GST Case Law Compendium- April Edition

Permissible Services by Secretarial Auditor as per SEBI LODR FAQs

Goods and Services Tax Appellate Tribunal (Procedure) Rules, 2025

CBDT Notification 38/2025: Settlement Expense Non-Deductibility – FAQs

SC Clarifies Copyright vs Design for Industrial Works

Section 56(2)(viia) not apply to shares held as stock-in-trade: ITAT Mumbai

View All Featured Posts

Sponsored

Provisions and Process for Conversion of Loan into Equity Shares

Auto Income Tax Calculator for FY 2025-26

Signed Blank Cheque Issued Towards Payment Attracts Section 138 NI Act Provisions: SC

Tax Planning for Managerial Decisions | Finance Act 2025 Updates

MSME Form 1: Key Filing Rules and Requirements

Analysis of Finance Act 2025 – Key Direct Tax Amendments

Section 138 of NI Act doesn’t require complainant to prove his financial capacity

5 key changes in GST E-Way Bill & E-invoice for new FY 2025-26

Action Required by 31-03-2025: GST Amnesty Scheme Under Section 128A

GST Appeal and Waiver Scheme: Need for Deadline Extension

Search Post by Date