Disallowance of interest as non allowable expenditure - As long ...

Interest Disallowance Not Applicable for Stock-in-Trade Advance; Deduction Allowed u/s 36(1)(iii) of Income Tax Act.

May 20, 2015

Case Laws Income Tax HC

Disallowance of interest as non allowable expenditure - As long as the payment of advance was not for acquisition of fixed assets but only for acquiring stock-in-trade, assessee was entitled for deduction under Section 36(1)[iii] of the Act. - HC

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Disallowance of interest as non allowable expenditure - As long ...

Interest Disallowance Not Applicable for Stock-in-Trade Advance; Deduction Allowed u/s 36(1)(iii) of Income Tax Act.

May 20, 2015

Case Laws Income Tax HC

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