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Tax Authority Deletes Added Interest Expenses on Interest-Free Loan to Subsidiary for Business Expansion.

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Full Text of the Document

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....Disallowance of Interest Expenses related to Interest free Advance/loan given to its subsidiary company - The loan advanced to subsidiary company is financed from Interest Free Funds accumulated by the company, as noted above. Such loan was advanced out of commercial expediency to expand the business of the subsidiary company. - Additions deleted - AT....

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