Interest Deduction on Loans Disallowed u/ss 24(b) and 36(1)(iii) of Income Tax Act: Assessee's View Had Merit.

Interest Deduction on Loans Disallowed u/ss 24(b) and 36(1)(iii) of Income Tax Act: Assessee's View Had Merit. https://www.taxtmi.com/highlights?id=28352 Disallowance out of interest on loan u/s 24(b) as well as u/s 36(1)(iii) - belief of the assessee that any expense incurred during the course of its business (including interest paid on funds borrowed) should be allowable against the income earned during the course of business, cannot be said to be wholly unfounded and without any basis - AT en-us Sat, 09 Apr 2016 08:01:02 +0530 Sat, 09 Apr 2016 08:01:02 +0530 TaxTMI RSS Generator Interest Deduction on Loans Disallowed u/ss 24(b) and 36(1)(iii) of Income Tax Act: Assessee's View Had Merit. https://www.taxtmi.com/highlights?id=28352 Disallowance out of interest on loan u/s 24(b) as well as u/s 36(1)(iii) - belief of the assessee that any expense incurred during the course of its business (including interest paid on funds borrowed) should be allowable against the income earned during the course of business, cannot be said to be wholly unfounded and without any basis - AT Highlights Income Tax Sat, 09 Apr 2016 08:01:02 +0530 https://www.taxtmi.com/highlights?id=28352