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Income Tax - Highlights / Catch Notes

Home Highlights February 2020 Year 2020 This

Accrued interest on the loan raised for the company against F.D. ...

Income Tax

February 10, 2020

Accrued interest on the loan raised for the company against F.D. Booked by the Director - this interest is actually the liability of the company and there is no basis for claiming this expenditure, in the hands of the appellant. Therefore there is no basis for setting off of this liability of company against interest earned by assessee on funds belonging to him deposited in the bank.

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