Interest on Car Loan for Business Use Cannot Be Disallowed Due to Other Fund Allocations by Taxpayer.

Interest on Car Loan for Business Use Cannot Be Disallowed Due to Other Fund Allocations by Taxpayer. https://www.taxtmi.com/highlights?id=46109 Disallowance of interest on car loan - used for business/profession - merely because the assessee placed his own funds and also the interest free loans for some other purposes, is not open for the AO to disallow the interest on the amount taken for business purpose en-us Thu, 25 Apr 2019 06:29:46 +0530 Thu, 25 Apr 2019 06:29:46 +0530 TaxTMI RSS Generator Interest on Car Loan for Business Use Cannot Be Disallowed Due to Other Fund Allocations by Taxpayer. https://www.taxtmi.com/highlights?id=46109 Disallowance of interest on car loan - used for business/profession - merely because the assessee placed his own funds and also the interest free loans for some other purposes, is not open for the AO to disallow the interest on the amount taken for business purpose Highlights Income Tax Thu, 25 Apr 2019 06:29:46 +0530 https://www.taxtmi.com/highlights?id=46109