Interest expense incurred for funds borrow to introduce capital is allowable as expenditure against remuneration income

Ishwardas Satyanarayan Gupta Vs ITO (ITAT Mumbai)

ITAT Mumbai held that the partner should be entitled to all the deductions which he was entitled while computing his share of profits in the firm. Thus, interest expenditure incurred by the assessee, as capital was introduced from borrowed funds, should be al

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