https://www.taxtmi.com/circulars?id=10621 Section 23 of MSMEDA disallows, for income tax computation, any amount of interest payable or paid by a buyer under or in accordance with the Act. Section 22 mandates audited buyers to disclose separately principal and interest outstanding, interest paid, accrued unpaid interest, and further interest due, enabling assessing officers to ascertain and disallow interest claimed as a deductible expenditure. en-us Thu, 14 Dec 2006 00:00:00 +0530 Wed, 15 Jun 2011 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10621 Section 23 of MSMEDA disallows, for income tax computation, any amount of interest payable or paid by a buyer under or in accordance with the Act. Section 22 mandates audited buyers to disclose separately principal and interest outstanding, interest paid, accrued unpaid interest, and further interest due, enabling assessing officers to ascertain and disallow interest claimed as a deductible expenditure. Circulars Income Tax Thu, 14 Dec 2006 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10621