Loss on redemption of debentures couldn’t be disallowed if it was proved that borrowing was utilized for business

INCOME TAX: Whether once borrowing made through debentures and utilized for business had been established through agreements and correspondences and no contrary evidence had been placed, then claim of loss could not be rejectedINCOME TAX: Whether once borrowing made through debentures and utilized for business had been established through agreements and correspondences and no contrary evidence had been placed, then claim of loss could not be rejectedwww.taxmann.com Latest Case LawsRead More

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