2018 (10) TMI 1229 - SCH - Income Tax

Claim as interest expenditure as business expenditure - interest on funds borrowed to purchase land which is part of inventory of the assessee company is an allowable deduction u/s 36(1)(iii) - put to use - Held that - The Special Leave Petition is dismissed. Pending application stands disposed of.

Summary

The Supreme Court dismissed the Special Leave Petition after condoning the delay. The pending application was disposed of. (Citation: 2018 (10) TMI 1229 - SC Order)