2018 (7) TMI 510 - SCH - Income Tax

Claim as interest expenditure as business expenditure - allowable deduction u/s 36(1)(iii) - interest on funds borrowed to purchase land which is part of inventory of the assessee company - Held that - No merit in this petition. The Special Leave Petition is accordingly dismissed.

Summary

The Supreme Court of India, with judges Mr. Rohinton Fali Nariman and Ms. Indu Malhotra, dismissed the Special Leave Petition as they found no merit in the petition. Pending applications, if any, are disposed of. (2018 (7) TMI 510 - SC Order)