Interest Paid to Partners and Depositors Not Considered Acquisition, Improvement, or Transfer Cost for Tax Purposes.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Interest to partners and depositors for the funds used for acquiring capital assets cannot be said to be cost of acquisition or cost of improvement or cost of transfer - AT....