Disallowance of interest component on EMI paid to Non-Banking Financial Companies u/s 40(a)(ia) of IT Act: ITAT quashes order

By Shabna Rahim - On June 3, 2023 8:30 pm - 2 mins read
Disallowance - interest component on EMI - EMI paid to Non-Banking Financial Companies - IT Act - ITAT quashes order -taxscan

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) quashed the order passed by the Commissioner of Income Tax (Appeals) for the disallowance of interest component on EMI paid to non-banking financial companies under section 40a(ia) of Income Tax Act, 1961. M/s. Vivek Bhole Architects Pvt. Ltd, the appellant assessee was a private limited company…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader