Interest Expenditure not Claimed in Profit and Loss Account cannot be Treated as Revenue Expense for Disallowance u/s 14A of Income Tax Act: ITAT [Read Order]

Interest - Interest Expenditure - Expenditure - Profit - ITAT - taxscan

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the interest expenditure which had not been claimed in the profit and loss account could not be treated as revenue expense for disallowance under Section 14A of the Income Tax Act 1961. In this case the Assessing Officer noted that assessee, Mission Holding…

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