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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Disallowance of interest paid to the bank - the ...

Income Tax

November 9, 2015

Disallowance of interest paid to the bank - the appellant/assesse had advanced an interest free loan to its sister concern - there would be a direct benefit on account of the advance made by the appellant to its sister company if the same improves the financial health of the sister company and makes it a viable enterprise. - deduction on interest allowed - HC

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