2015 (7) TMI 1278 - HC - Income Tax

The matter is set down for final hearing on 2nd September 2015. It is however, clarified that both the parties will have to address arguments on the question whether the interest paid on borrowings for the purposes of investment by the Assessee could be treated as business expenditure.

Summary

The Delhi High Court condoned the delay in re-filing an appeal due to office relocation causing file misplacement. The matter is set for final hearing on 2nd September 2015 to address whether interest paid on borrowings for investment purposes can be considered as business expenditure. Parties allowed to submit additional documents.