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Income Tax - Highlights / Catch Notes

Home Highlights January 2021 Year 2021 This

Disallowance of proportionate interest on capital advances ...

Income Tax

January 29, 2021

Disallowance of proportionate interest on capital advances provided by the assessee - contentions of the Ld. AR are that, the advances does not pertains to sister concerns but the balance with government authorities - the advances disclosed in the financial statements are with the statutory authorities and the action of the A.O. to disallow proportionate interest considering such advances is not acceptable. - AT

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