Sec. 36(1)(iii) disallowances couldn’t be attracted where loan was advanced to sister concern in normal course of business

INCOME TAX : Where Assessing Officer had not rendered any finding as to his dissatisfaction with claim of assessee in respect of such expenditure in relation to exempt income as is required in accordance with section 14(2) for making a disallowance under rule 8D, Tribunal was right in deleting said disallowanceINCOME TAX : Where Assessing Officer had not rendered any finding as to his dissatisfaction with claim of assessee in respect of such expenditure in relation to exempt income as is required in accordance with section 14(2) for making a disallowance under rule 8D, Tribunal was right in deleting said disallowancewww.taxmann.com Latest Case LawsRead More

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