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Interest income - it is strange to believe that any non-related party will given loan of ₹ 50 lakh without taking any interest from the appellant company - Hence CIT(A) rightly estimated interest 1 per month (i.e. 12 per year simple interest rate) - Tri - Income Tax

Income Tax
January 11, 2017

Interest income - it is strange to believe that any non-related party will given loan of ₹ 50 lakh without taking any interest from the appellant company - Hence CIT(A) rightly estimated interest @1% per month (i.e. 12% per year simple interest rate) - Tri

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