If Interest on original loan not allowable then Interest on second loan for repayment of original loan also not allowable

ITAT, BENCH `B’, CHENNAI

K. S. Kamalakannan Vs ACIT

ITA No. 588/Mds/2009

DECIDED ON: November 27, 2009

RELEVANT PARAGRAPH

9. The question that arises is whether the loan taken by the assessee from HSBC was for repayment of the loan taken for constructi

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