A two-judge bench of the Delhi High Court has held that deduction under section 57 of the Income Tax Act is allowable for payment of interest to earn interest. The respondent-assessee taken ICDs of Rs.55.30/- Crores at the interest rate of 12% per annum from M/s Jubilant Energy (Kharsang) Private Limited. Payments under the ICDs […]
The post Interest paid to earn interest is Allowable Deduction: Delhi HC [Read Judgment] appeared first on Taxscan | Simplifying Tax Laws.
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