Disallowance of interest paid on deposit outside the books of ...

Interest on unrecorded deposits can be disallowed, but section 37(1) may exempt interest on capital borrowed for business.

June 8, 2013

Case Laws Income Tax AT

Disallowance of interest paid on deposit outside the books of account - provisions of section 37(1) may not be applicable in respect of interest on the capital borrowed for business purpose. - AT

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Disallowance of interest paid on deposit outside the books of ...

Interest on unrecorded deposits can be disallowed, but section 37(1) may exempt interest on capital borrowed for business.

June 8, 2013

Case Laws Income Tax AT

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