TMI BlogDisallowance on account of interest on the capital account - The withdrawals made by the assessee from...Disallowance on account of interest on the capital account - The withdrawals made by the assessee from the other partnership firms on which interest was paid by him, thus, were not utilized for non-business purpose and interest paid thereon in my opinion, cannot be disallowed on the ground that there was utilization of corresponding funds for non-business purpose as alleged by the authorities below. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
