https://www.taxtmi.com/caselaws?id=26638 The High Court of Punjab and Haryana ruled in favor of the assessee on both issues. Interest paid on the purchase of machinery was considered part of the machinery's cost for depreciation and development rebate entitlement. Additionally, registration expenses incurred for obtaining a loan for a new venture were allowed as business expenditure. The court supported its decision by referencing relevant precedents and clarified the treatment of these expenses for taxation purposes. en-us Mon, 13 Jan 1986 00:00:00 +0530 Sat, 06 Feb 2010 14:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26638 The High Court of Punjab and Haryana ruled in favor of the assessee on both issues. Interest paid on the purchase of machinery was considered part of the machinery's cost for depreciation and development rebate entitlement. Additionally, registration expenses incurred for obtaining a loan for a new venture were allowed as business expenditure. The court supported its decision by referencing relevant precedents and clarified the treatment of these expenses for taxation purposes. Case-Laws Income Tax Mon, 13 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26638