Addition made towards interest expenses claimed - assessee ...

Case Laws Income Tax

June 7, 2021

Addition made towards interest expenses claimed - assessee derived income from letting out the properties i.e. rental income, which has been shown as income from operations in the P&L Account - As the interest expenses incurred on the borrowing which are utilized for acquiring the assets, income derived from which is credited to P&L account and offered to tax. There is a direct nexus between the income offered and the expenditure claimed. - AT

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Addition made towards interest expenses claimed - assessee ...

Case Laws Income Tax

June 7, 2021

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