https://www.taxtmi.com/highlights?id=57998 Addition u/s 36(1)(iii) - deduction towards interest paid on loans borrowed for business purposes - Merely for the reason that there is no rental payment for current financial year, genuine rental agreement and consequent rent advance paid cannot be considered as diversion of funds for non-business purposes so as to disallow interest expenses paid on loan borrowed for the purpose of business. - AT en-us Mon, 17 May 2021 12:45:54 +0530 Mon, 17 May 2021 12:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57998 Addition u/s 36(1)(iii) - deduction towards interest paid on loans borrowed for business purposes - Merely for the reason that there is no rental payment for current financial year, genuine rental agreement and consequent rent advance paid cannot be considered as diversion of funds for non-business purposes so as to disallow interest expenses paid on loan borrowed for the purpose of business. - AT Highlights Income Tax Mon, 17 May 2021 12:45:54 +0530 https://www.taxtmi.com/highlights?id=57998