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2011 (9) TMI 476 - HC - Income TaxDeferred revenue expenditure - Total Interest paid amounting to Rs. 6,23,73,947, a sum of Rs. 1,06,68,247 was booked to profit and loss account as revenue expenditure adopting the formula of 26 days : 150 days - AO called for documentary evidence in support of his claim - In view of Madras Industrial Investment Corporation (1997 - TMI - 5591 - SUPREME Court) deduction to be claimed in the year when revenue expense are incurred. - Expenses cannot be Deferred to the advantage of assessee.
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