https://www.taxtmi.com/circulars?id=9524 Amount of discount on issue of bonds cannot be treated as an expenditure where no payment out has occurred; the earlier Board instruction allowing such discount as a deductible loss is withdrawn and income tax officers must withdraw amounts previously allowed and take remedial action. en-us Sat, 22 Oct 1983 00:00:00 +0530 Mon, 06 Jun 2011 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9524 Amount of discount on issue of bonds cannot be treated as an expenditure where no payment out has occurred; the earlier Board instruction allowing such discount as a deductible loss is withdrawn and income tax officers must withdraw amounts previously allowed and take remedial action. Circulars Income Tax Sat, 22 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9524