Loan Availed in Earlier Years: No Annual Commercial Expediency Proof Needed

PCIT Vs N. S. Software (Delhi High Court)

Facts of the case:- During previous year relevant to A.Y. 2005-06, the assessee had taken loan from the bank. During the period spanning between A.Y. 2005-06 to A.Y. 2011-12, interest on loan paid by the assessee to the bank was allowed as deductible

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