No Disallowance of Interest Expenditure if Interest-Free Funds are more than Value of Investments and Loan Funds haven’t used to make Investments: ITAT

The Income Tax Appellate Tribunal (ITAT) Bangalore bench while remitting the matter back to the Assessing Officer (AO) said that if the interest-free funds available with the assessee is more than the value of investments and further the loan funds have not been used to make the investments, then no disallowance out of interest expenditure […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2ZSdovS