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![Repayment of Loan shall be allowed as Application of Income If the Cost of Assets purchased out of Loan was not allowed, Rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/11/Repayment-of-Loan-Application-of-Income-Cost-of-Assets-Loan-ITAT-Taxscan.jpg "Repayment of Loan shall be allowed as Application of Income If the Cost of Assets purchased out of Loan was not allowed, Rules ITAT [Read Order]")
Repayment of Loan shall be allowed as Application of Income If the Cost of Assets purchased out of Loan was not allowed, Rules ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Bangalore bench, while allowing an appeal filed by Dr. Chandrashekar Foundation, held that if the cost of...