This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
In case of mixed funds investment must be considered to be out of interest free fund
Case Law Details
- Case Name
- PCIT Vs PTC India Financial Services Limited (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
PCIT Vs PTC India Financial Services Limited (Delhi High Court)
A perusal of the paper book reveals that the AO rejected the assessee company’s computation on the ground that the ‘assessee company had raised substantial amount of loans for investment in new ventures on which substantial amount of interest was paid’. However, the Appellate Authorities below held that the investments were made out of assessee’s own funds and no borrowed funds were used to acquire investments. Consequently, there was no interest expenditure which could be directly or indirectly attributed to the e...
