In M/s. Russell Credit Limited vs. Joint Commissioner of Income Tax, Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that the interest rate should be the market-determined interest rate applicable to the currency concerned in which the loan has to be repaid. The assessee lend an interest free amount of 5 Lakh Australian Dollar […]
The post Currency in which the Loan is to be Re-Paid determines the Rate of Return on the Money Lent: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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