sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
From the Courts »
 Eaton Fluid Power Limited vs. ACIT (ITAT Pune)
 Pr. CIT vs. Veedhata Tower Pvt. Ltd (Bombay High Court)
 Mahaveer Kumar Jain vs. CIT (Supreme Court)
  Shantivijay Jewels Ltd vs. DCIT (ITAT Mumbai)
 Minda SM Technocast Pvt. Ltd vs. ACIT (ITAT Delhi)
 Meta Plast Engineering P. Ltd. vs. ITO (ITAT Delhi)
 Shantivijay Jewels Ltd vs. DCIT (ITAT Mumbai)
  Amod Shivlal Shah vs. ACIT (ITAT Mumbai)
 The Shri Saibaba Sansthan Trust (Shirdi) vs. UOI (Bombay High Court)
  Pr CIT vs. JWC Logistics Park Pvt. Ltd (Bombay High Court)
 ITO (Exemptions) vs. Chandigarh Lawn Tennis Association (ITAT Chandigarh)

KRISHAK BHARATI COOPERATIVE LIMITED Vs. COMMISSIONER OF INCOME TAX & ANOATHER
September, 10th 2013

The facts are not in dispute. The appellant had built a fertilizer plant at Hazira, West Bengal. Government of India held equity share capital in the appellant society. By their letter dated 20th April, 1988, the Government of India converted a part of their equity share capital amounting to Rs.16 crores into a loan with retrospective effect; Rs.6 crores from 26th December, 1983 and Rs.10 crores from 20th January, 1984. As a result of the said conversion, the appellant became liable to pay interest on the said amount, which was payable with effect from 26th December, 1983 on loan of Rs.6 crores and 20th January, 1984 for loan of Rs.10 crores. Interest payable on the said loan was capitalised upto 28th February, 1986, i.e., the date on which the commercial production started in the fertilizer plant at Hazira.

For More information

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions