Disallowance of interest on loan since interest free advances ...

Interest Disallowance Rule Not Applicable for Sales-Based Outstanding Amounts; Business Purpose is Clear.

August 27, 2020

Case Laws Income Tax AT

Disallowance of interest on loan since interest free advances given to the parties - Once it is held that the amount was outstanding out of sales made, the business purpose is automatically established and there can be no question of disallowance in respect of outstanding amount for business purpose. - AT

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Disallowance of interest on loan since interest free advances ...

Interest Disallowance Rule Not Applicable for Sales-Based Outstanding Amounts; Business Purpose is Clear.

August 27, 2020

Case Laws Income Tax AT

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