CIT v. Mihir Textiles Ltd2009(Guj)
Money borrowed by issue of debentures is in nature of LOAN &cannot assume as investment.So,exp in nature of commitment charges at the time of issuing such debenture wud b on REVENUE a/c only.Hence allowable as deduction u/s36(1)
Same decision in DCIT v. Core Health Care Ltd2008
Money borrowed by issue of debentures is in nature of LOAN &cannot assume as investment.So,exp in nature of commitment charges at the time of issuing such debenture wud b on REVENUE a/c only.Hence allowable as deduction u/s36(1)
Same decision in DCIT v. Core Health Care Ltd2008
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