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purpose of' pursuing his higher education, or interest on such loan: Provided that the amount which may be so deducted ... year, in which the assessee starts repaving the loan or interest thereon
Central Government Act
recover rents from them in
repayment of the loan and interest due to the Bank. Unfortunately for him,
the building ... completed and by 1975 the outstanding loan and
interest had swollen to over Rs. 4 lacs. The Bank then felt
Supreme Court of India
recover rents from them in repayment
of the loan and interest due to the Bank. Unfortunately for
him, the building ... completed and by 1975 the
outstanding loan and interest had swollen to over Rs 4
lakhs. The Bank then felt
Supreme Court of India
lakhs, VFCL is required to bring in interest-free loan
of Rs. 18.50 lakhs and 14 per cent interest bearing ... assessee as a promoter company to advance
interest-free loans upto the limit stated above and to advance further
loan
Income Tax Appellate Tribunal - Ahmedabad
hands of the employee directors who
were advanced interest-free loans by the company?
3. High Court answered the question ... VAIDYA (224 ITR 186) in which interest free
loan or loan at a concessional rate given to employee for building
Supreme Court of India
investment companies which
earn substantial income from interest on loans and advances are yet not
covered by the definition given ... pointed out that interest on securities is not interest on
loans though the statement that interest on securities is mostly
Allahabad High Court
right in law in holding that the interest on sticky loans
should be assessed on cash basis ... cash system of accounting in respect of the interest on sticky
loans and as such the question of offering interest
Karnataka High Court
with matters
relating to the rate of interest in cases of loans and that before a
debtor can claim relief ... creditor at
the date of the loan.
(b) In considering whether interest is excessive under this section,
the Court shall
Madras High Court
practice of carrying interest on such sticky loans to
'Interest Suspense Account' or 'Reserve for Doubtful
Interest Account' in stead ... accounts on mercantile
basis the three sums being interest on loans, whether
doubtful or sticky, fell due and became payable
Supreme Court of India
Government securities in the total amount of interest on loans and
advances and subjecting it to interest-tax under ... same could not be classified
as interest on loans and advances under section 2(7) of the Interest
Bombay High Court
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