Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2000 (3) TMI 182 - ITAT INDORE
Extract:
.......and for earning interest income, the assessee is not entitled for netting between the interest received and the interest paid on borrowed fund. We, therefore, hold that the netting is not permissible between the interest received, and interest paid on funds borrowed for business purpose. 9. In the result, this issue is decided against the assessee.