Nature of interest expenditure - since the loan had been raised ...
Income Tax
April 29, 2020
Nature of interest expenditure - since the loan had been raised for purchase of the shares of subsidiary company so as to enable the assessee company to acquire the business of M/s RPIL, hence the expenditure incurred in respect of loan raised in the instant year is a revenue expenditure u/s 36(l)(iii) - AT
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