Interest on Debentures Not Exempt: No Addition or Disallowance u/s 14A(2) or Section 36(1)(iii) of Income Tax Act.

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....Disallowance u/s 14A(2) - when interest receivable on debentures does not fall in the category of exempt income, no addition on account of disallowance of interest as claimed u/s 36(1)(iii) of the Act can be made....