Disallowance of interest payment converted into FITL (Funded ...

Income Tax

June 11, 2021

Disallowance of interest payment converted into FITL (Funded Interest Term Loans) - the impugned ‘funded interest term loan’ is not a loan transaction but assessee’s contract agreement with the creditor party and therefore, the CIT(A) has held that the same is not exigible to ‘actual payment’ contemplated u/s.43B of the Act. - No additions - AT

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Disallowance of interest payment converted into FITL (Funded ...

Income Tax

June 11, 2021

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