Interest Disallowance Remanded for Verification While Section 40(a)(ia) and Land Conversion Charge Disallowances are Upheld Issue Whether interest on borrowed capital for work-in-progress requires verification, whether section 40(a)(ia) applies to paid amounts, and whether land conversion charges/interest qualify for business expenditure or capital allowances. Facts Interest on Borrowed Capital: For AYs 2009-10 to 2010-11, the… Read More »
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