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2017 (1) TMI 1211 - RAJASTHAN HIGH COURT
Expenditure of interest payment made towards interest on loans borrowed to finance the cost of its expansion scheme - revenue expenditure OR capital expenditure - Held that:- As decided in Secure Meters Ltd.case [2008 (11) TMI 66 - HIGH COURT RAJASTHAN] admittedly the debentures when issued is a loan, and therefore, whether it is convertible, or non-convertible, does not militate against the nature of the debenture, being loan, and therefore, the expenditure incurred would be admissible as revenue expenditure. - Decided in favour of the assessee