Allowance of expenditure incurred on issue of Foreign Currency ...

Expenditure for Foreign Currency Convertible Bonds (FCCB) issuance is revenue in nature; FCCBs are loans initially.

March 29, 2017

Case Laws Income Tax HC

Allowance of expenditure incurred on issue of Foreign Currency Convertible Bonds (FCCB) - even if the FCCB are convertible into equity at a later date, yet on the date of its issue, it is a loan. Therefore, expenditure incurred thereon is revenue in nature - HC

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Allowance of expenditure incurred on issue of Foreign Currency ...

Expenditure for Foreign Currency Convertible Bonds (FCCB) issuance is revenue in nature; FCCBs are loans initially.

March 29, 2017

Case Laws Income Tax HC

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