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Interest paid for capital borrowed for business purpose is deductible u/s 36 of Income Tax Act
![No Notional interest to be charged on Share Application Money paid to Associated Enterprises [Transfer Pricing]](/_next/image?url=https%3A%2F%2Fassets.studycafe.in%2Fuploads%2F2022%2F04%2FSTUDYCAFE-IMAGES-42.jpg&w=3840&q=75)
No Notional interest to be charged on Share Application Money paid to Associated Enterprises [Transfer Pricing]

First Appellate Authority cannot dismiss appeal without due application of mind

Reassessment proceedings cannot be initiated if the assessee has made full and true disclosure

ITAT imposes penalty on assessee who was lethargic and non-cooperative before the AO
