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Income Tax - Highlights / Catch Notes

Home Highlights August 2015 Year 2015 This

Disallowances of interest - part of borrowed funds has been ...


Interest Disallowed on Borrowed Funds Used for Interest-Free Loans; Section 11AA Exemption for SEZ Unit Denied.

August 5, 2015

Case Laws     Income Tax     AT

Disallowances of interest - part of borrowed funds has been utilized in providing interest free loans to M/s Eros Exports - assessee, itself admitted that direct nexus between borrowings and advancing loan - AO's order for Disallowance interest and exemption and u/s 11AA (SEZ unit) confirmed - AT

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