Interest paid on Convertible Debentures is not Interest on Equity and allowable as Expenditure u/s. 36(1)(iii): ITAT [Read Order]

By Taxscan Team - On August 18, 2022 5:40 pm - 2 mins read
Interest paid - convertible debentures - interest - equity - expenditure - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Bangalore held that Interest paid on convertible debentures is not interest on equity and allowable as expenditure under Section 36(1)(iii). The only issue raised by assessee, M/s. CAE Flight Training (India) Pvt Ltd is in respect of treating Compulsory Convertible Debentures (CCDs) as equity and holding that no interest…

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