Disallowance of proportionate interest u/s. 36(1)((iii) - loan ...

Income Tax

September 13, 2023

Disallowance of proportionate interest u/s. 36(1)((iii) - loan taken for construction of building for the year under consideration on which the assets were not put to use in terms of proviso to section 36(1)(iii) - Assessee has treated it as revenue expenditure in the impugned AY which is not correct as per section 36(1)(iii) & the proviso is very clear. - Since the interest expenditure should be capitalised disallowance confirmed- AT

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Disallowance of proportionate interest u/s. 36(1)((iii) - loan ...

Income Tax

September 13, 2023

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