BD Law Reports(BLR) Online Legal Sources of Higher Court Decisions

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Nari-O-Shishu Nirjatan Daman (Bishesh Bidhan) Ain, 1995 Partition Suit Between The Co-Sharers Nari-O-Shishu Nirjatan Daman Ain, 2000 (VIII of 2000) Section 7 How to stay of Civil Suits ? Court Sentenced 14 Militants to Death of Kotali para Case Judgment of Kotali Para Sedition Case on Tuesday Action Tips For Pending Action Based On Laws And Decisions To Enforce. How About An Advocate Status Engaging Cause of And Promoting Justice? Natural Justice Even Where Provision For Show Cause Notice The Government Has No Obligation Either To Deny The Facts Alleged

Proviso- The basic requirement of law is that so long as the assesses

Proviso– The basic requirement of law is that so long as the assesses is capital for the purpose of its business and paying interest thereon, he is entitled to get allowance of deduction for the interest paid by him. The only exception is in respects of the categories of use in favor of an entity whose income is exempted from payment of tax. In giving interpretation to a relevant provision, proviso , if any thereto, should also be interpreted. At least it should be said that the proviso is not relevant for deciding the case concerned – Commissioner of Taxes Vs Transfin Trading Ltd. (Statutory Original), 67 DLR (HCD) (2015) 367 Section 29

Section 29(1) clause (iii) – The proviso excluded the benefit from the assessee for deduction of interest paid in respect of the three categories of uses of the borrowed capital by transferring any part of it to an entity whose income is exempted from payment of tax.Only in such uses, the assessee is not entitled to allowance of deduction of interest paid on the borrowed capital.this being the apparent meaning of the proviso to clause -(iii) of sub-section of section 29, this proviso does not have any application at all.- Commissioner of Taxes Vs Transfin Trading Ltd. (Statutory Original), 67 DLR (HCD) (2015) 367.