https://www.taxtmi.com/highlights?id=58667 Disallowance of swap charges on loans obtained by the assessee - The utilization of the loans for the purposes of business has not been disputed by the learned DR before us, hence, there is no question of disallowance of any interest, whether nomenclature as interest or swap charges. The nomenclature of the transaction is absolutely irrelevant than the substance of the transaction. Thus we hold that the assessee is entitled for deduction towards swap charges. - AT en-us Tue, 06 Jul 2021 21:44:38 +0530 Tue, 06 Jul 2021 21:44:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=58667 Disallowance of swap charges on loans obtained by the assessee - The utilization of the loans for the purposes of business has not been disputed by the learned DR before us, hence, there is no question of disallowance of any interest, whether nomenclature as interest or swap charges. The nomenclature of the transaction is absolutely irrelevant than the substance of the transaction. Thus we hold that the assessee is entitled for deduction towards swap charges. - AT Highlights Income Tax Tue, 06 Jul 2021 21:44:38 +0530 https://www.taxtmi.com/highlights?id=58667