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2019 (9) TMI 204 - SCH - Income TaxDisallowance u/s 36(1)(iii) - interest incurred for the purpose of making investments in subsidiary companies - HELD THAT - Since the tax effect involved in the matter is less than two crores as stipulated in the latest CBDT Circular dated 8.8.2019 no interference is called for. The special leave petition is dismissed.
The Supreme Court dismissed the special leave petition as the tax effect was less than two crores, as per the CBDT Circular dated 8.8.2019. Delay was condoned, and pending applications were disposed of.
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