Interest on Borrowed Funds Invested in Partnership Not Disallowed u/s 36(1)(iii) of Income Tax Act.

Interest on Borrowed Funds Invested in Partnership Not Disallowed u/s 36(1)(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=59080 Disallowance towards interest u/s.36(1)(iii) in the hands of partner - interest paid on borrowed funds - amount invested in partnership firm by the assessee partner is certainly for business purpose and hence, there cannot be any disallowance of interest u/s.36(1)(iii) of the Act. - AT en-us Fri, 06 Aug 2021 09:12:18 +0530 Fri, 06 Aug 2021 09:12:18 +0530 TaxTMI RSS Generator Interest on Borrowed Funds Invested in Partnership Not Disallowed u/s 36(1)(iii) of Income Tax Act. https://www.taxtmi.com/highlights?id=59080 Disallowance towards interest u/s.36(1)(iii) in the hands of partner - interest paid on borrowed funds - amount invested in partnership firm by the assessee partner is certainly for business purpose and hence, there cannot be any disallowance of interest u/s.36(1)(iii) of the Act. - AT Highlights Income Tax Fri, 06 Aug 2021 09:12:18 +0530 https://www.taxtmi.com/highlights?id=59080