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Income Tax - Highlights / Catch Notes

Home Highlights February 2022 Year 2022 This

Disallowance of interest expenses u/s. 36(1)(iii) - disallowance ...

Case Laws     Income Tax

February 22, 2022

Disallowance of interest expenses u/s. 36(1)(iii) - disallowance of financial cost attributable to capital work in progress and project work in progress - In case, the assessee has taken any loan for specific purpose of acquisition of asset or execution of project, then interest attributable to said purpose needs to be capitalized to work in progress account - AT

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