Disallowance of interest u/s 36(1)(iii) - interest bearing loans ...

Case Laws Income Tax

July 30, 2019

Disallowance of interest u/s 36(1)(iii) - interest bearing loans versus advances - as long as commercial expediency is established, there remains no reason for making any disallowance and it is entirely the prerogative of the assessee to charge or not to charge interest on such advances made. The AO cannot sit in the arm chair of the businessman and determine how the business is to be run.

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Disallowance of interest u/s 36(1)(iii) - interest bearing loans ...

Case Laws Income Tax

July 30, 2019

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