Held that the amount borrowed form cash credit account are Investments in immovable properties and shares of other companies for the purpose of business purpose Disallowance of interest is deleted. (AY.2015-16)
Dy. CIT v. Guru Nanak Milk Products (2024)114 ITR 344 /232 TTJ 325 (Amritsar (Trib)
S. 36(1)(iii) :Interest on borrowed capital-Interest paid on cash credit account-Investments in immovable properties and shares of other companies-Business purpose-Disallowance is deleted.
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