Investment made from Interest Free Own Funds: ITAT deletes Disallowance of Interest [Read Order]

Investment - Interest-Free - Funds-ITAT - Disallowance - Interest-taxscan

The Income Tax Appellate Tribunal (ITAT) Delhi Bench while deleting disallowance of interest held that investment made by the assessee company from its own interest free funds.  The assessee Living Media India ltd.is engaged in the business of Subscription, Publishing and trading of books, magazines and diaries, sale of advertisement space in magazines, trading of…

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