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Interest charged at rate more than LIBOR was reasonable if loans were given without any intention to earn income

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Posted onon November 28, 2017

Tenet Tax Daily November 28 2017

By tenettax-team
Corporate Tax, International Tax

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Income from letting out property was to be taxed as business income if letting out was main object of assessee
Deductor was liable to pay interest on TDS default even if he wasn’t an assessee-in-default as per sec. 201(1)

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