Court Rules 12% Annual Interest on Unlikely Interest-Free Loan to Appellant Company under Tax Dispute.

Court Rules 12% Annual Interest on Unlikely Interest-Free Loan to Appellant Company under Tax Dispute. https://www.taxtmi.com/highlights?id=32838 Interest income - it is strange to believe that any non-related party will given loan of ₹ 50 lakh without taking any interest from the appellant company - Hence CIT(A) rightly estimated interest @1% per month (i.e. 12% per year simple interest rate) - AT en-us Wed, 11 Jan 2017 07:26:16 +0530 Wed, 11 Jan 2017 07:26:16 +0530 TaxTMI RSS Generator Court Rules 12% Annual Interest on Unlikely Interest-Free Loan to Appellant Company under Tax Dispute. https://www.taxtmi.com/highlights?id=32838 Interest income - it is strange to believe that any non-related party will given loan of ₹ 50 lakh without taking any interest from the appellant company - Hence CIT(A) rightly estimated interest @1% per month (i.e. 12% per year simple interest rate) - AT Highlights Income Tax Wed, 11 Jan 2017 07:26:16 +0530 https://www.taxtmi.com/highlights?id=32838