Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 1999 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1999 (10) TMI 740 - AT - Income TaxExtract: ........ Therefore, this year also no disallowance is called for. Even otherwise, it is difficult to establish any nexus between funds which flowed in and funds which flowed out. Thus, entire interest paid has to be treated as incurred for business purposes. Accordingly, we delete the disallowance. 20. In the result, the appeal of the assessee is allowed.
|