https://www.taxtmi.com/caselaws?id=795848 Premium payable on redemption of foreign currency convertible bonds is treated as revenue expenditure because borrowing-related costs incurred for business purposes do not create an enduring asset or advantage. The redemption-premium liability arises when the bonds are issued and is allowable under the applicable business-expenditure provision. Although the liability arises in the year of issue, settled treatment permits its proportionate amortisation over the bonds' maturity period, irrespective of possible early redemption. No fresh question of law arose on the timing of deduction because that issue had not been raised before the appellate authorities. en-us Thu, 23 Jul 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795848 Premium payable on redemption of foreign currency convertible bonds is treated as revenue expenditure because borrowing-related costs incurred for business purposes do not create an enduring asset or advantage. The redemption-premium liability arises when the bonds are issued and is allowable under the applicable business-expenditure provision. Although the liability arises in the year of issue, settled treatment permits its proportionate amortisation over the bonds' maturity period, irrespective of possible early redemption. No fresh question of law arose on the timing of deduction because that issue had not been raised before the appellate authorities. Case-Laws Income Tax Thu, 23 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795848