Rectification u/s 154 - Disallowance of interest on account of the fact that the money was invested in...

Rectification u/s 154 - Disallowance of interest on account of the fact that the money was invested in the capital of the firms, to earn exempt income - the issue as to whether the assessee has correctly claimed the set-off such interest paid to Chola-IDBI, in absence of any interest income for the firm is a highly debatable issue. - rectification order set aside - AT .....

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