Disallowance u/s 36(1)(iii) - interest free loan to its ...

Interest on Loans for Interest-Free Subsidiaries Disallowed u/s 36(1)(iii) of Income Tax Act; Customer Advances Not Own Funds.

September 21, 2020

Case Laws Income Tax AT

Disallowance u/s 36(1)(iii) - interest free loan to its subsidiaries - the amount of advances received from the customers cannot form part of own fund of the assessee. Therefore, the amount of interest on the borrowed funds diverted to the non-interest bearing advances should be disallowed. - AT

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Disallowance u/s 36(1)(iii) - interest free loan to its ...

Interest on Loans for Interest-Free Subsidiaries Disallowed u/s 36(1)(iii) of Income Tax Act; Customer Advances Not Own Funds.

September 21, 2020

Case Laws Income Tax AT

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