TMI BlogClaim of deduction on interest/redemption premium on debentures - The CIT(A) has accepted assessee's...Claim of deduction on interest/redemption premium on debentures - The CIT(A) has accepted assessee's explanation that it had quantified the premium as per the agreement dated 15.05.2010 spread over for three financial years. It is trite that a borrowing Company, which issues debentures incurs liability to pay larger amount than what it has borrowed. The assessee - Company has made provision for payment of premium and also paid TDS. The adverse finding recorded by the ITAT that the parties had ch..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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