Interest on Zero Coupon Bonds Allowed as Deduction Under Income Tax Act Sections 36(1)(iii) and 57(iii.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Deduction of interest incurred on zero coupon bonds u/s 36(1)(iii) OR u/s 57(iii) as claimed by the appellant - interest expenditure in respect of opening balance of amount advanced is to be allowed.....