TMI BlogRevenue splitted the transactions in such a manner that it upheld the genuineness of borrowing, payment...Revenue splitted the transactions in such a manner that it upheld the genuineness of borrowing, payment and receipt of interest but when question of considering payment of additional interest of 6.5% came into consideration, it termed the said part of transaction as colourable device/tax planning - expenditure allowed - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
