Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2008 (1) TMI 26 - HC - Income Tax
Deduction of interest and upfront fees paid loan taken for setting up a new unit u/s 36(1)(iii) read with Exp. 8 of Sec. 43(1) - there is distinction between modernization of existing plant and for setting up of a new plant. The expenditure should be treated as capital expenditure