Assessee lent money from borrowed funds, charging higher ...

Lending business earned interest spread, no disallowance. Keyman insurance maturity proceeds fully exempt.

Case Laws Income Tax

November 22, 2024

Assessee lent money from borrowed funds, charging higher interest rate than paid, later lending from own funds. Total interest paid eligible for deduction, though assessee suo moto disallowed part. No further disallowance warranted by authorities. Maturity proceeds from keyman insurance policy exempt u/s 10(10D), without bifurcation, following precedent. Authorities erred in denying exemption. Decisions favored assessee on both issues.

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Assessee lent money from borrowed funds, charging higher ...

Lending business earned interest spread, no disallowance. Keyman insurance maturity proceeds fully exempt.

Case Laws Income Tax

November 22, 2024

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