Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1997 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1997 (1) TMI 540 - HC - Income TaxExtract: .......d in holding that the interest paid on moneys borrowed for payment of dividend was not allowable under s. 36(1)(iii) of the IT Act, 1961. Such interest is allowable as deduction under s. 36(1)(iii) of the IT Act, 1961 as the payment of dividend is part of the business of the company. 3. The question referred to us is answered accordingly. No costs.
|