Constitutional validity of 'interest deduction limitation' u/s 94B proviso challenged before Madras HC

Jul 31,2018

Madras HC issues notice to Revenue upon writ petition filed by Seimens Gamesa Renewable Power Pvt. Ltd. ('petitioner') challenging the vires of proviso to Sec. 94B; Petitioner contends that the proviso to Sec. 94B(1) seeks to disallow interest paid on a loan taken from a resident lender with the guarantee of associated enterprise, despite there being no possibility of base erosion and profit shifting in such cases; Petitioner also cla...

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