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| The Tax Publishers2019 TaxPub(DT) 2493 (Bom-HC) : (2019) 262 TAXMAN 0341 INCOME TAX ACT, 1961
Section 36(1)(iii)
Where assessee had made an investment yielding income in form of dividend, the expenditure incurred for earning such income had to be allowed under section 36(1)(iii).
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Business deduction under section 36(1)(iii) - Interest on borrowed capital - Investment in share capital of sister concern -
AO made addition under section 36(1)(iii) towards advance share application money provided by assessee to its sister concern. Held: Since assessee had made investment which would yield income in form of dividend, the expenditure incurred for earning such income had to be allowed under section 36(1)(iii).
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
INCOME TAX ACT, 1961
Section 14A
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