Since assessee was having substantial reserve funds with it and ...

AO's Disallowance u/s 36(1)(iii) Unjustified: Investments Made from Reserve Funds, Not Borrowed Capital.

September 20, 2012

Case Laws Income Tax AT

Since assessee was having substantial reserve funds with it and the AO had merely gone by a presumption that investments were made out of borrowed funds disallowance under Section 36(1)(iii) was not warranted - AT

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Since assessee was having substantial reserve funds with it and ...

AO's Disallowance u/s 36(1)(iii) Unjustified: Investments Made from Reserve Funds, Not Borrowed Capital.

September 20, 2012

Case Laws Income Tax AT

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