Loan Processing Fee Deemed Capital; Depreciation Allowed by Adding Fee to Asset Cost, Says AO Order.

Loan Processing Fee Deemed Capital; Depreciation Allowed by Adding Fee to Asset Cost, Says AO Order. https://www.taxtmi.com/highlights?id=22066 No infirmity in the order of AO in treating the entire loan processing fee paid for obtaining loan from bank being capital in nature. The assessee however, would be entitled to claim depreciation by capitalizing this figure with the cost of asset acquired by it - AT en-us Wed, 11 Mar 2015 06:43:22 +0530 Wed, 11 Mar 2015 06:43:22 +0530 TaxTMI RSS Generator Loan Processing Fee Deemed Capital; Depreciation Allowed by Adding Fee to Asset Cost, Says AO Order. https://www.taxtmi.com/highlights?id=22066 No infirmity in the order of AO in treating the entire loan processing fee paid for obtaining loan from bank being capital in nature. The assessee however, would be entitled to claim depreciation by capitalizing this figure with the cost of asset acquired by it - AT Highlights Income Tax Wed, 11 Mar 2015 06:43:22 +0530 https://www.taxtmi.com/highlights?id=22066