Interest Expense Disallowed for Share Acquisition in Related Companies; Additions Confirmed Due to Insufficient Business Expense Claim.

Disallowance of interest expenditure - the borrowed fund has been utilized by the assessee to procure the shares of such known and related companies and most of them are unquoted shares, therefore, the interest expenditure as claimed by the assessee as business expenditure is not established - Additions confirmed - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X