Live Help
Get News Alerts from Taxmann.com on your desktop.
No Thanks Allow
You have blocked the notification on recent updates. Click below to re-subscribe.
No Thanks
You have already subscribed to Taxmann’s notification.
No Thanks UnSubscribe
Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset Session Cancel Session
 

Interest paid on loan taken for purchase of land used as stock-in-trade to be allowed as revenue exp.

July 17, 2018[2018] 96 taxmann.com 38 (Bombay)/[2018] 257 Taxman 103 (Bombay)
346 Views

IT: Where assessee, engaged in construction business, purchased plot of land out of borrowed funds for implementation of a project, since plot of land was purchased in course of business of assessee, same formed part of its stock-in-trade, and, therefore, interest paid on borrowings for purchase of said land was to be allowed as revenue expenditure

read more

taxmann.com
Payment
Best view in 1140 x 768