No Addition shall be made, if Assessee has Sufficient Interest Free Fund to Provide Interest Free loans: ITAT dismisses Revenue’s Appeal [Read Order]

interest free fund - interest free loans - ITAT - revenue's Appeal - ITAT dismisses revenue's Appeal - taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi bench held that no addition should be made if the assessee has sufficient interest free fund to provide interest free loans. Therefore the bench dismissed the revenue’s appeal. Assessee V C Solutions Pvt. Ltd. had received loan & advances o f Rs.91,06,12 ,956/- and paid an interest of Rs.1,52,05,890/-….

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here
taxscan-loader