Nature of expenditure - interest expenses - revenue or capital ...

Case Laws Income Tax

November 17, 2022

Nature of expenditure - interest expenses - revenue or capital expenditure - whether the interest expenditure is required to be added to the cost of work in progress in case of income being recognized under Percentage of Completion Method - The project constitutes stock in trade of the assessee - Since that assessee had received loan for obtaining stock in trade, it was entitled to deduction u/s 36(1)(iii) of the Act. - AT

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Nature of expenditure - interest expenses - revenue or capital ...

Case Laws Income Tax

November 17, 2022

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