interest earned on untilised borrowed capital

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....nterest earned on untilised borrowed capital<br> Query (Issue) Started By: - ANIL JHUNJHUNWALA Dated:- 21-11-2011 Last Reply Date:- 1-12-2011 Income Tax<br>Got 1 Reply<br>Income Tax<br>pl give me any ....

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....suprme court judgment where assess was allowed to off set interest earned from borrowed capital and interets paid on term and cc loan as preoperative expenses . i have seen tuticorn alkali case 1997 s....

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....uprmecourt where tax have been levied on interets earned and interest paid was capitalised . pl help me to find case in assesse favour Reply By Deepak Nagori: The Reply: Dear Anil, Tuticorin Alkali....

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.... case was applicable because the assessee earned interest on surplus funds. In your case, if you establish a clear nexus between the interest earned and interest spent, then you can claim the deductio....

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....n u/s 57, which allows all expenses incurred to earn the corresponding income. Regards CA Deepak Nagori<br> Discussion Forum - Knowledge Sharing ....