I.TA. NO.809/KB OF 1992-93, DECIDED ON 20TH JANUARY, 1993. versus I.TA. NO.809/KB OF 1992-93, DECIDED ON 20TH JANUARY, 1993.
Section 23 (1) (vii) and (xviii) deduction of interest is acceptable if the borrowed capital is spent for business or profession purposes. However, under clause (xviii), two additional terms are included. ? That such expenditure should not be in the nature of capital expenditure, or personal expenditure, and second, that such expenditures should be incurred solely and exclusively for the purpose of the purpose, It is inappropriate for the time spent. Acceptance of interest deduction
Find a Lawyer Near You
Dealing with a matter like this? Connect with a verified advocate in your city — free on SJP Lawyers Directory.
