Wednesday, October 31, 2018

No disallowance of interest exp. if loan was advanced to subsidiary from interest free funds

IT : Where assessee had sufficient interest free funds to cover advances given to its subsidiary and no interest bearing fund was advanced to subsidiary, no interest expenditure was to be disallowed under section 36(1)(iii)

from www.taxmann.com Latest Case Laws https://ift.tt/2Oj9mUC
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