Interest Expenses Disallowed Due to Unjustified Financial Arrangements u/ss 36(1)(iii) and 40A of Income Tax Act.

Interest Expenses Disallowed Due to Unjustified Financial Arrangements u/ss 36(1)(iii) and 40A of Income Tax Act. https://www.taxtmi.com/highlights?id=38758 Disallow the interest u/s. 36(1)(iii) read with section 40A - assessee had advanced money at lower rate of interest or free of interest out of the funds borrowed by the assessee at higher rate of interest - assessee failed to explain the business expediencies - additions confirmed - AT en-us Thu, 05 Apr 2018 15:14:41 +0530 Thu, 05 Apr 2018 15:14:41 +0530 TaxTMI RSS Generator Interest Expenses Disallowed Due to Unjustified Financial Arrangements u/ss 36(1)(iii) and 40A of Income Tax Act. https://www.taxtmi.com/highlights?id=38758 Disallow the interest u/s. 36(1)(iii) read with section 40A - assessee had advanced money at lower rate of interest or free of interest out of the funds borrowed by the assessee at higher rate of interest - assessee failed to explain the business expediencies - additions confirmed - AT Highlights Income Tax Thu, 05 Apr 2018 15:14:41 +0530 https://www.taxtmi.com/highlights?id=38758