Case Law Details
Case Name : Highways Construction Co Pvt Ltd Vs CIT (Guwahati High Court)
Related Assessment Year :
Courts :
All High Courts Guwahati High Court
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There is no finding of fact to the effect that actually the loan had been granted to the managing director or any other person on interest, or that interest had actually been collected and the collection of the interest was not reflected in the accounts. The finding of the Income Tax Officer is that the assessee ought to have collected interest. In other words, the view of the Income Tax Officer, which has been accepted by the Tribunal, was that the assessee, as a good business concern, should not have granted interest-free loan, or should ha Please become a Premium member. If you are already a Premium member, login here to access the full content.
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