Disallowance on account of interest on borrowings paid by the ...

Interest Disallowance Contested: Assessee's Cash Basis Method Validates Interest Payments Contingent on Flat Allotment Application.

November 13, 2019

Case Laws Income Tax AT

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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Disallowance on account of interest on borrowings paid by the ...

Interest Disallowance Contested: Assessee's Cash Basis Method Validates Interest Payments Contingent on Flat Allotment Application.

November 13, 2019

Case Laws Income Tax AT

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