Exemption for examination-related services rejected where recipients were commercial entities; suppression sustained extended limitation and penalties...
Interest on term loan due from Joint Venture Companies - assessee claimed that the debt is already bad - the AO has noted that the assessee has not written off the loans in its books of account and the same figure is continuing even in subsequent assessment years. Moreover, the assessee itself treated the loan amount as “unsecured considered good” and interest due on the same - Additions confirmed - AT
Interest on term loan due from Joint Venture Companies - assessee claimed that the debt is already bad - the AO has noted that the assessee has not written off the loans in its books of account and the same figure is continuing even in subsequent assessment years. Moreover, the assessee itself treated the loan amount as “unsecured considered good” and interest due on the same - Additions confirmed - AT
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