Intex Construction -vs- Commissioner of Domestic Taxes TAT Appeal No. 235 of 2016,
Interest Restriction does not apply to local entities
Where the Tribunal held that the interest expense restriction under Section 16(2) (j) did not apply to locally controlled entities, sentiments that were also upheld in the case of East African Growers Ltd -vs- Commissioner of Domestic Taxes TAT Appeal No. 26 of 2016.
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