Disallowance u/s 36(1)(iii) - interest free loan to its subsidiaries - the amount of advances received...

Disallowance u/s 36(1)(iii) - interest free loan to its subsidiaries - the amount of advances received from the customers cannot form part of own fund of the assessee. Therefore, the amount of interest on the borrowed funds diverted to the non-interest bearing advances should be disallowed. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X