Disallowance of interest expenditure - alleging that the ...

Interest Deduction Denied as Assessee Fails to Prove Business Purpose for Incurred Interest Expenditure.

January 20, 2022

Case Laws Income Tax AT

Disallowance of interest expenditure - alleging that the assessee was unable to establish that the interest expenditure was incurred for the purpose of business - The onus is entirely on the assessee to establish on record that the interest expenditure claimed as deduction was incurred for the purpose of business. The assessee having failed to do so, the claim cannot be allowed. - AT

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Disallowance of interest expenditure - alleging that the ...

Interest Deduction Denied as Assessee Fails to Prove Business Purpose for Incurred Interest Expenditure.

January 20, 2022

Case Laws Income Tax AT

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