Co-operative credit society deduction on bank deposit interest upheld where funds were business funds and income remained attributable to member credi...
Interest free advances - Disallowance of part interest paid on unsecured loans - Merely because non-interest-bearing advances were given to third parties, would not justify a finding that the test of “commercial expediency” was not satisfied.
Interest free advances - Disallowance of part interest paid on unsecured loans - Merely because non-interest-bearing advances were given to third parties, would not justify a finding that the test of “commercial expediency” was not satisfied.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
