Disallowance of interest - reference to section 179 - The ...

Legislature clarifies corporate veil lifting in tax issues: prevent fraud, not penalize genuine financial struggles. See Section 179.

September 22, 2017

Case Laws Income Tax HC

Disallowance of interest - reference to section 179 - The legislature has also recognised, that the doctrine of lifting of veil in the matter of tax dues is to be applied to prevent fraud etc. and not where the company has suffered despite its normal bona fide function. - HC

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Disallowance of interest - reference to section 179 - The ...

Legislature clarifies corporate veil lifting in tax issues: prevent fraud, not penalize genuine financial struggles. See Section 179.

September 22, 2017

Case Laws Income Tax HC

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