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ITAT Disallows Interest Paid On Loan Taken For Paying Compensation To Family Members Pursuant To Arbitral Award On Family Settlement

The Panaji Bench of the Income Tax Appellate Tribunal (ITAT) has disallowed the interest paid on a loan that was taken for paying compensation to the assessee’s family members pursuant to an arbitral. ....

Partha Sarathi Chaudhury , Sanjay Atchut Poy Raiturcar , Panaji Bench , Income Tax Appellate Tribunal , Vice President , Judicial Member , Income Tax , Portuguese Civil Code , Fabrica De Gas , Sanjay Atchut Poy Raiturcar Versus , Arbitral Award , Family Settlement ,