Disallowances in case of Interest free loans granted

| Last updated: 28 December 2010

Disallowances in case of Interest free loans given by a company to a sister concern or others. In this regard it is pertinent to note that it is a well settled law that notional incomes are not taxable under the Income Tax Act, 1961. The Orissa High Court in the case of Tripty Drinks P
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varun jain

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