Disallowance of interest expenses - as observed by AO that ...

Income Tax

March 10, 2022

Disallowance of interest expenses - as observed by AO that assessee-company had advanced interest free loan as advanced out of secured loan availed from the Bank of Baroda - The assessee in fact claimed the interest expenses against the Nil return on investment made. We note that such interest expense is allowable under section 57(iii) - AT

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Disallowance of interest expenses - as observed by AO that ...

Income Tax

March 10, 2022

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