Interest from Loans to Subsidiaries Classified as Business Income, Allowing Deductions u/s 36(1)(iii) of Income Tax Act.

Interest from Loans to Subsidiaries Classified as Business Income, Allowing Deductions u/s 36(1)(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=52264 Interest income on loans / ICD given to subsidiaries and group concerns - Correct head of income - “income from other sources” or “income from business” as claimed by assessee - AO directed to treat interest income as “income from business” and to allow interest expenditure u/s.36(1)(iii) - AT en-us Wed, 11 Mar 2020 09:54:39 +0530 Wed, 11 Mar 2020 09:54:39 +0530 TaxTMI RSS Generator Interest from Loans to Subsidiaries Classified as Business Income, Allowing Deductions u/s 36(1)(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=52264 Interest income on loans / ICD given to subsidiaries and group concerns - Correct head of income - “income from other sources” or “income from business” as claimed by assessee - AO directed to treat interest income as “income from business” and to allow interest expenditure u/s.36(1)(iii) - AT Highlights Income Tax Wed, 11 Mar 2020 09:54:39 +0530 https://www.taxtmi.com/highlights?id=52264