https://www.taxtmi.com/forum/issue?id=110662 Interest on loans for unused, unallocated leasehold land in a partnership firm should be treated as revenue expenditure rather than capitalised, because the land is idle and not earmarked for any specific project, so the interest does not create or enhance a capital asset and is charged to profit and loss. en-us Wed, 20 Jul 2016 21:30:02 +0530 Thu, 23 Jan 2025 15:56:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110662 Interest on loans for unused, unallocated leasehold land in a partnership firm should be treated as revenue expenditure rather than capitalised, because the land is idle and not earmarked for any specific project, so the interest does not create or enhance a capital asset and is charged to profit and loss. Discussion-Forum Income Tax Wed, 20 Jul 2016 21:30:02 +0530 https://www.taxtmi.com/forum/issue?id=110662