Just a moment...

Report
FeedbackReport
Bars
Logo TaxTMI
>
×

By creating an account you can:

Feedback/Report an Error
Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
TMI Blog
Home / RSS

Expenditure for Loan Discharge Considered Revenue, Not Capital Loss, for Business Purpose of Assessee.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of expenditure - taking over of the loan or discharge of the loan - it is for the business purpose of the assessee and, hence, revenue in nature and cannot be treated as a capital loss - AT....