ITAT Bangalore Rejects Disallowance of Interest-Free Advance to Related Party Under Section 36(1)(iii) of the Income Tax Act

The ITAT ruled that, as long as interest-free funds are sufficiently available at the time of advance, disallowance of interest on subsequent loans will not stand. In this article, we delve into a notable tax judgement of ITAT involving a … Continue reading ITAT Bangalore Rejects Disallowance of Interest-Free Advance to Related Party Under Section 36(1)(iii) of the Income Tax Act