Disallowance u/s. 40A(2)(b) - assessee company had paid interest ...

Interest Disallowance Deleted: Personal Guarantees by Directors Deemed Business Necessity in Loan Transactions.

December 18, 2023

Case Laws Income Tax AT

Disallowance u/s. 40A(2)(b) - assessee company had paid interest on Unsecured loans and advances taken from Directors and relatives - Considering the fact, the above two parties were stood for the personal guarantee of the loans availed by the assessee company which is a business exigency. - Additions deleted- AT

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Disallowance u/s. 40A(2)(b) - assessee company had paid interest ...

Interest Disallowance Deleted: Personal Guarantees by Directors Deemed Business Necessity in Loan Transactions.

December 18, 2023

Case Laws Income Tax AT

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