Interest Paid on Borrowed Fund for Acquiring Controlling Interest in another Company allowable as Business Expenditure: Bombay High Court [Read Judgment]

The Bombay High Court in the case of PCIT v M/s Concentrix Services upheld that the interest paid on the borrowed fund for the purpose of acquiring a controlling interest in another company would be allowable business expenditure. Respondent engaged in the business of providing IT-enabled services such as Call Centres, BPO services, etc. Respondent […]

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