Tax Authorities Disallow Interest on Loans: Interest-Free Advances to Father's Business Examined Under Tax Rules.

Tax Authorities Disallow Interest on Loans: Interest-Free Advances to Father's Business Examined Under Tax Rules. https://www.taxtmi.com/highlights?id=54288 Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his father proprietary concern and on the other hand the assessee is paying interest on the loan obtained from his father. - Additions confirmed (after excluding the own funds) - AT en-us Fri, 07 Aug 2020 07:41:57 +0530 Fri, 07 Aug 2020 07:41:57 +0530 TaxTMI RSS Generator Tax Authorities Disallow Interest on Loans: Interest-Free Advances to Father's Business Examined Under Tax Rules. https://www.taxtmi.com/highlights?id=54288 Disallowance of amount of interest on the amount advanced as interest-free advance & loans - Assessee on one hand is advancing interest free loans and advances to his father proprietary concern and on the other hand the assessee is paying interest on the loan obtained from his father. - Additions confirmed (after excluding the own funds) - AT Highlights Income Tax Fri, 07 Aug 2020 07:41:57 +0530 https://www.taxtmi.com/highlights?id=54288