IT Judgement

finance charges was not allowable under section 36(1)(iii)
Income TaxIT Judgement

Where assessee company made advances to its subsidiary companies out of borrowed funds who further gave said advances to SPVs of assessee , since there was no business activity undertaken by assessee except for making investment and earning dividend, expenditure incurred under head finance charges was not allowable under section 36(1)(iii)

IT : Where assessee company made advances to its subsidiary companies out of borrowed funds who further gave said advances…




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