Monday, January 6, 2020

ITAT allowed deduction of interest paid on borrowed money though no interest was earned on its further lending

INCOME TAX : Where assessee borrowed funds and utilised them for lending money to various parties, interest paid by assessee on money borrowed was to be allowed under section 57(iii) even if it did not earn interest income on money lent by it

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