IT/ILT: Where assessee granted loan to its foreign subsidiary company which was subsequently converted into equity capital, in view of fact that as per loan agreement interest was not chargeable in such a situation, addition made by TPO/Assessing Officer on account of notional interest was to be set aside

IT/ILT: Where assessee granted loan to its foreign subsidiary company which was subsequently converted into equity capital, in view of fact that as per loan agreement interest was not chargeable in such a situation, addition made by TPO/Assessing Officer on account of notional interest was to be set aside

[2013] 39 taxmann.com 51 (Ahmedabad - Trib.)

IN THE ITAT AHMEDABAD BENCH 'B'

Deputy Commissioner of Income-tax (OSD), Range -1

v.

Cadila Healthcare Ltd.*