No Addition of Interest on Restructure of Working Capital Cash Credit Loan: ITAT [Read Order]

Interest - Working Capital - Cash Credit Loan - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Kolkata bench has held that no addition of interest on the restructuring of working capital cash credit loan. The appellant, M/s. Prity Tubes Pvt. Ltd. is in the business of manufacturing and trading M.S. pipes etc. During assessment proceedings, the Assessing Officer sought explanations and documents in respect of…

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