Interest Expenditure Allowed as Section 56 Imposes No Conditions on Interest Rate; Appellant Justified Lower Interest on Old Loans.

Interest Expenditure Allowed as Section 56 Imposes No Conditions on Interest Rate; Appellant Justified Lower Interest on Old Loans. https://www.taxtmi.com/highlights?id=29756 Interest expenditure has been expended to earn interest income. Sec. 56 does not postulate any condition about the rate of charging interest. The appellant explained the reasons and circumstances as to how the lesser interest was charged on old loans - Claim of interest expenditure allowed - AT en-us Thu, 16 Jun 2016 13:46:18 +0530 Thu, 16 Jun 2016 13:46:18 +0530 TaxTMI RSS Generator Interest Expenditure Allowed as Section 56 Imposes No Conditions on Interest Rate; Appellant Justified Lower Interest on Old Loans. https://www.taxtmi.com/highlights?id=29756 Interest expenditure has been expended to earn interest income. Sec. 56 does not postulate any condition about the rate of charging interest. The appellant explained the reasons and circumstances as to how the lesser interest was charged on old loans - Claim of interest expenditure allowed - AT Highlights Income Tax Thu, 16 Jun 2016 13:46:18 +0530 https://www.taxtmi.com/highlights?id=29756