Disallowance on account of interest on borrowings paid by the assessee - it was mutually agreed between...

Disallowance on account of interest on borrowings paid by the assessee - it was mutually agreed between the assessee and the respective parties that the payment for fees will be made subject to the condition that the assessee applies for allotment of flat. - Following the method of accounting on Cash basis, amount of interest for earlier cannot be disallowed. .....

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