Case Law Details
Case Name : Uttar Gujarat Vij Company Ltd Vs ACIT (ITAT Ahmedabad)
Appeal Number : ITA No. 2089/Ahd/2013
Date of Judgement/Order : 24/08/2022
Related Assessment Year : 2010-11
Courts :
All ITAT ITAT Ahmedabad
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Uttar Gujarat Vij Company Ltd Vs ACIT (ITAT Ahmedabad)
ITAT Ahmedabad held that loans to staff members is not business expenses and therefore interest earned on such loans cannot be treated as business income.
Facts-
AO
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