Business Expenditure U/S. S.36 (1) (iii) – Interest on borrowed capital for mutual accommodations, allowable, commercial expediency
Money Mantan November 5, 2011
Comments (19)

Business Expenditure U/S. S.36 (1) (iii) – Interest on borrowed capital for mutual accommodations, allowable, commercial expediency

Description: S.36 (1) (iii): Business expenditure – Interest on borrowed capital – Advance to sister concern – Mutual accommodations – Commercial expediency. When there is mutual accommodation by both parties in terms and lending and borrowing from each other, the assessees claim of commercial expedient has to be accepted. Ramkrishn Textiles P.Ltd. vs. ITO (2011) […]

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Business Expenditure U/S. S.36 (1) (iii) – Interest on borrowed capital for mutual accommodations, allowable, commercial expediency
Money Mantan October 17, 2011
Comments (391)

Business Expenditure U/S. S.36 (1) (iii) – Interest on borrowed capital for mutual accommodations, allowable, commercial expediency

Description: S.36 (1) (iii): Business expenditure – Interest on borrowed capital – Advance to sister concern – Mutual accommodations – Commercial expediency. When there is mutual accommodation by both parties in terms and lending and borrowing from each other, the assessees claim of commercial expedient has to be accepted. Ramkrishn Textiles P.Ltd. vs. ITO (2011) […]

Read More