https://www.taxtmi.com/caselaws?id=179103 The High Court remanded the appeal concerning the disallowance of interest on license fee as capital expenditure, focusing on determining if the interest payment related to the period before July 31, 1999, for capitalization under Section 35ABB. The court ruled that if the interest payment was for the period before July 31, 1999, it should be treated as capital expenditure. Regarding the nature of interest on delayed license fee, the court held that interest accrued before July 31, 1999, should be capitalized, leading to the dismissal of the assessee's claim. The decision emphasized the importance of distinguishing between capital and revenue expenditures under the Income Tax Act, 1961. en-us Fri, 02 Jan 2015 00:00:00 +0530 Sat, 20 Feb 2016 10:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179103 The High Court remanded the appeal concerning the disallowance of interest on license fee as capital expenditure, focusing on determining if the interest payment related to the period before July 31, 1999, for capitalization under Section 35ABB. The court ruled that if the interest payment was for the period before July 31, 1999, it should be treated as capital expenditure. Regarding the nature of interest on delayed license fee, the court held that interest accrued before July 31, 1999, should be capitalized, leading to the dismissal of the assessee's claim. The decision emphasized the importance of distinguishing between capital and revenue expenditures under the Income Tax Act, 1961. Case-Laws Income Tax Fri, 02 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179103