TMI BlogDisallowance of interest - assessee had taken unsecured loans from the family members of the partners in...Disallowance of interest - assessee had taken unsecured loans from the family members of the partners in the earlier years and paying interest @ 15% on the same - Fresh borrowing during the year from HDFC bank has been utilized for advancing to the partners and the family members and there is thus a direct nexus - it would have been appropriate to compare the related party transaction with an independent third party transaction carrying the same qualitative unsecured loan parameters. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
