COMMISSIONER OF INCOME-TAX versus COMMONWEALTH TRUST INDIA LTD.
The expenditure or payment is not deductible \ Submission means, which means debentures to the Indian Company's business with the Indian company integrated with the Indian company under the scheme approved by the High Court with the secured loans in the books of the Indian company. And the Indian company pays interest on such loans to a foreign company - the Indian company pays interest on the consideration payment method for the assets received. (B) in 15 such loan amount is not equal to interest deposit to 15% of such interest. Shifting the Income Tax Act, 1961, section 40 can not be dismissed before O (8), ayksplyn (B). By the Finance Act, 1985, effective April 1, 1986]
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