No sec. 43B disallowance if interest was recovered by debiting cash credit account of assessee: ITAT

INCOME TAX : Where assessee had taken loans from bank which were restructured during year and bank had charged interest on term loan on month to month basis and same had been recovered by debiting it to cash credit account of assessee, since amounts of credits in cash credit account were much more than amount of interest debited by bank, no disallowance under section 43B was called forINCOME TAX : Where assessee had taken loans from bank which were restructured during year and bank had charged interest on term loan on month to month basis and same had been recovered by debiting it to cash credit account of assessee, since amounts of credits in cash credit account were much more than amount of interest debited by bank, no disallowance under section 43B was called forwww.taxmann.com Latest Case LawsRead More

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