Monday, 1 June 2015

Exp. incurred on stamp duty and registration charges for raising share capital was deductible under

IT : Where assessee entered into a 'Common Loan Agreement' in terms of which lender bank agreed to finance a part of maintenance of a road project, in view of fact that as per terms of said agreement, assessee was required to keep certain amount as fixed deposit with bank, interest income earned on same was to be taxed as business income

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