Interest paid on borrowed capital allowable if used for commercial expediency

S.A. Builders Ltd Vs. CIT (Appeals) Chandigarh & Anr. (Supreme Court) Interest paid on borrowed capital is an allowable expenditure u/s 36(1)(iii) even if not used for own business but used for commercial expediency . The observations of the Hon’ble SC on the allow ability of interest u/s 36(1)(iii) given to bank if advances are […]

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