https://www.taxtmi.com/caselaws?id=471574 Interest incurred by a real-estate developer is deductible as revenue expenditure rather than capitalised to work-in-progress where consistent treatment under Section 36(1)(iii) continues and facts remain unchanged. No Section 14A disallowance, or related book-profit adjustment, arises where no exempt income is earned; the explanation effective from 1 April 2022 does not apply to the relevant assessment year. Foreign-exchange loss on monetary items is recognised in profit and loss and cannot be included in inventory or project cost. Corporate-guarantee commission is benchmarked at arm's length under an interest-saving approach considering creditworthiness, tenure, currency, lending comparables and shared interest benefit. en-us Tue, 05 Dec 2023 00:00:00 +0530 Wed, 09 Sep 2026 17:49:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471574 Interest incurred by a real-estate developer is deductible as revenue expenditure rather than capitalised to work-in-progress where consistent treatment under Section 36(1)(iii) continues and facts remain unchanged. No Section 14A disallowance, or related book-profit adjustment, arises where no exempt income is earned; the explanation effective from 1 April 2022 does not apply to the relevant assessment year. Foreign-exchange loss on monetary items is recognised in profit and loss and cannot be included in inventory or project cost. Corporate-guarantee commission is benchmarked at arm's length under an interest-saving approach considering creditworthiness, tenure, currency, lending comparables and shared interest benefit. Case-Laws Income Tax Tue, 05 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471574