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<h1>Court orders ITAT to refer question of law on deduction for interest on business capital.</h1> The High Court of Rajasthan directed the Income-tax Appellate Tribunal to refer the question of law regarding the allowance of deduction for interest paid ... Advances To Directors, Income Tax Act, Interest On Borrowed Capital, Question Of Law The High Court of Rajasthan directed the Income-tax Appellate Tribunal to refer the question of law regarding the allowance of deduction for interest paid on capital borrowed for business purposes. The Tribunal was instructed to refer the question along with the statement of the case.
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