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Loan advanced to AE couldn’t be said to be for non-business purpose if assessee and its AE were in same business

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  • Loan advanced to AE couldn’t be said to be for non-business purpose if assessee and its AE were in same business
Posted onon June 1, 2016

Tenet Tax Daily May 24 2016

By tenettax-team
Corporate Tax, International Tax

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Addition made under sec. 40A(2) set aside as interest was paid to related party at prevailing market rate
No writ against CIT’s revisional order if alternate remedy of filing an appeal before ITAT was available to assessee

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