COMMISSIONER OF INCOME-TAX versus CHANDRA SHEKHAR PAWAN KUMAR NOTE 160, P.
The interest on the loan capital business Essex, which operates on the jewelry business exhibition of cinema theater films, borrowed for several years for the construction of the capital cinema theater cinema theater and then the transfer loan was acquired for business purposes, according to the Tribunal. Was a jewelry business and a movie show business. After Cinema's business withdrew section 36 (1) (iii) of the Indian Income Tax Act, 1961, interest from borrowed capital became a small interest [ient] [CIT v Veecumsee (1985) 152 ITR 708. ]
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