Tax Deduction Allowed: No Need to Prove Income from Investments u/s 36(1)(iii) of Income Tax Act.

Tax Deduction Allowed: No Need to Prove Income from Investments u/s 36(1)(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=47630 Disallowance u/s.36(1)(iii) - borrowed amount was invested in shares of a associate company - all the details of investments and working of interest paid has been provided to the Department - asking evidences that income will be generate to the assessee at this stage is not the requirement of Section 36(1)(iii) fistly and secondly it is just asking for some hypothetical evidences - deduction allowable en-us Tue, 02 Jul 2019 07:37:58 +0530 Tue, 02 Jul 2019 07:37:58 +0530 TaxTMI RSS Generator Tax Deduction Allowed: No Need to Prove Income from Investments u/s 36(1)(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=47630 Disallowance u/s.36(1)(iii) - borrowed amount was invested in shares of a associate company - all the details of investments and working of interest paid has been provided to the Department - asking evidences that income will be generate to the assessee at this stage is not the requirement of Section 36(1)(iii) fistly and secondly it is just asking for some hypothetical evidences - deduction allowable Highlights Income Tax Tue, 02 Jul 2019 07:37:58 +0530 https://www.taxtmi.com/highlights?id=47630