Interest allowable on loan advanced to subsidiaries for business need: SC
Bombay high court in an order, upheld ITAT Order that Interest is allowable on loan advanced to subsidiaries for business need. Supreme Court has Upheld this decision by dismissing appeal filed by Income Tax Department against Order of Bombay High Court.
SUPREME COURT OF INDIA
The Text of the Order as follows :
Delay condoned.
The special leave petition is dismissed.
Tags : Judgement, Supreme Court
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