ITAT slams AO in denying deduction of interest on loan though assessee set-up its business during relevant year

INCOME TAX : Where assessee, engaged in real estate business, having taken huge amount of loan, entered into development agreement for development of a township, it could be concluded that assessee set up its business during relevant year and, thus, assessee's claim for deduction under section 36(1)(iii), was to be allowed

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