Interest expenditure Disallowance u/s 36(1)(iii)-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law

Interest expenditure Disallowance u/s 36(1)(iii) for interest free loan-Allahabad High Court says business expediency not a must, earlier Division Bench decision was not a good law, pronounced in ignorance. ABCAUS Case Law Citation: ABCAUS 1166 (2017) (03) HC The Grievance: The appellant assessee was aggrieved by part of the …

Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money

Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money  Ministry of Finance PIB Press Release dated 10/03/2017 Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits …