Deduction of interest paid on borrowed sums from Bank under the ...

Income Tax

November 27, 2015

Deduction of interest paid on borrowed sums from Bank under the provisions of Section 36(1)(iii) disallowed - diversion of loan - loan given to Directors and Sister concern - the company had reserve/surplus to the tune of almost 15 crores - claim of deduction of interest allowed - SC

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Deduction of interest paid on borrowed sums from Bank under the ...

Income Tax

November 27, 2015

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