Court Rules Interest Expenses Disallowed: No Charges on Advance to Key Personnel's Wife Justified by Assessee's Strong Financial Position. https://www.taxtmi.com/highlights?id=55453 Disallowance of interest expenses - assessee has not charged any interest in respect of advance given to the wife of the one of the key personnel of the company - In view of the huge funds available with the assessee without any interest liability, we find that the issue is squarely covered in favour of assessee. - AT en-us Mon, 09 Nov 2020 13:45:46 +0530 Mon, 09 Nov 2020 13:45:46 +0530 TaxTMI RSS Generator Court Rules Interest Expenses Disallowed: No Charges on Advance to Key Personnel's Wife Justified by Assessee's Strong Financial Position. https://www.taxtmi.com/highlights?id=55453 Disallowance of interest expenses - assessee has not charged any interest in respect of advance given to the wife of the one of the key personnel of the company - In view of the huge funds available with the assessee without any interest liability, we find that the issue is squarely covered in favour of assessee. - AT Highlights Income Tax Mon, 09 Nov 2020 13:45:46 +0530 https://www.taxtmi.com/highlights?id=55453