Interest Paid On Related-Party Loans Cannot Be Disallowed By Netting Trade Advances Or Adding Notional Interest
Interest Paid On Related-Party Loans Cannot Be Disallowed By Netting Trade Advances Or Adding Notional Interest Issue Netting of Loan and Current Accounts under Section 40A(2): Whether the Assessing Officer (AO) can disallow interest paid on an unsecured loan from a related party by netting it against a trade advance/current account, without proving that the… Read More »