THE DCIT CIRCLE-1(1), BARODA VERSUS ADITYA MEDISALE LTD - Income Tax - ITAT AHMEDABAD - Tri - Interest as expenditure u/s 36(1)(iii) of the Income tax act Money borrowed at higher rate and money lent at lower rate of interest Allowability of interest Held that - Reliance has been placed upon the order of ITAT D Bench Ahmedabad in assessee s own case titled as The Dy. CIT vs. Aditya Medisales Ltd 2013 (9) TMI 114 - ITAT AHMEDABAD , which is decided in favor of assessee, wherein it was h................................... Income Tax - Case Laws
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