TMI Blognterest on loan to Managing Director - unless interest payment is directly related to the diverted...nterest on loan to Managing Director - unless interest payment is directly related to the diverted funds, it cannot be said that interest incurred by the assessee was for non business purpose - remit this issue to AO to decide afresh. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
