Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
Disallowance of interest expenditure under section 36(1)(iii) - assessee has a business interest in the sister concern, therefore, advancement of interest free loan to the sister concern can be considered to be for commercial expediency. - AT
Disallowance of interest expenditure under section 36(1)(iii) - assessee has a business interest in the sister concern, therefore, advancement of interest free loan to the sister concern can be considered to be for commercial expediency. - AT
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