Allowability of interest on borrowed funds - loan taken for ...

Interest on loans for acquiring controlling shares is deductible u/s 36(1)(iii) for business expansion purposes.

July 16, 2019

Case Laws Income Tax AT

Allowability of interest on borrowed funds - loan taken for acquisition of share - assessee acquired shares of DPSC Ltd which is in the similar business to control stake is a commencement of business - allowable as deduction u/s 36(1)(iii) as it is a commercial expediency with a view to expand business and acquiring, controlling interest in subsidiary companies

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Allowability of interest on borrowed funds - loan taken for ...

Interest on loans for acquiring controlling shares is deductible u/s 36(1)(iii) for business expansion purposes.

July 16, 2019

Case Laws Income Tax AT

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