Disallowance of Deduction of Interest Income should be restricted to Net Interest and not Gross Interest: ITAT [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that disallowance of deduction under section 80IB(10) of the Income Tax Act, 1961 in respect of interest income should be restricted to net interest and not gross interest. The assessee, M/s. Saturn Griha Nirman Pvt. Limited is a Company, which is engaged in the business […]

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