Deduction u/s 36(1)(iii) - double deduction for deduction of ...

Income Tax

May 13, 2022

Deduction u/s 36(1)(iii) - double deduction for deduction of interest - once these amounts are allowed as deduction in the year of incurring the expenditure, the same shall not be eligible for being allowed as deduction yet again as a part of the work in progress being debited to the profit and loss account in any subsequent year. The double deduction will thus not be permissible. The conclusions arrived at by the learned CIT(A), subject to this observation, are approved. - AT

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Deduction u/s 36(1)(iii) - double deduction for deduction of ...

Income Tax

May 13, 2022

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