Discount on issue of debentures is deductible u/s. 37 in proportion to percentage of redemption

INCOME TAX : Where assessee claimed discount given on issue of debentures which were redeemable for a period of 5 years as business expenditure in year of issue itself, discount on issue of debenture was to be spread over in proportion to percentage of redeeming of such debentureINCOME TAX : Where assessee claimed discount given on issue of debentures which were redeemable for a period of 5 years as business expenditure in year of issue itself, discount on issue of debenture was to be spread over in proportion to percentage of redeeming of such debenturewww.taxmann.com Latest Case LawsRead More

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