Disallowance of interest on partner’s capital u/s 40(b) restricted to net advances out of interest bearing funds
May 11, 2021
Income Tax, ITAT
Disallowance of interest on partner’s capital u/s 40(b) restricted to net advances out of interest bearing funds ABCAUS Case Law CitationABCAUS 3503 (2021) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in deleting the addition made by the Assessing Officer …