The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the expenses incurred on financial charges can be deductible from Business Income as the same would amount to business expenditure. In the instant case, both the Assessing Officer and the first appellate authority treated the land as capital asset and accordingly, capitalized […]
The post Expenses incurred on Financial Charges allowable as Expenditure: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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