Payment for Encashment of Bank Guarantee and Interest on Late Payment is Capital Expenditure: Delhi High Court [Read Judgment]

A two-judge bench of the Delhi High Court has held that the payment for encashment of bank guarantee and the interest paid on late payment are capital expenditure for the purpose of Income Tax Act. The assessee was primarily engaged in the business of developing, maintaining and operating of Bus-Q-Shelters (BQS), metro stations, highways etc., […]

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