13 results for “disallowance”+ Section 10(37)clear
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Bench: Shri Om Prakash Kantshri Pavan Kumar Gadale
10 CTR 0375 (SC), in which it is decided that interest expenditure on borrowings is not allowed if the same is not related to the business of the assessee. The amount of Rs. 11,59,23,319/- on account of interest on borrowed fund is not eligible for disallowance u/s 37(1) of the IT Act. As the borrowed fund