Supreme Court · 2008 INSC 344 · Decided 12 March 2008
Kerala Road Lines v. Commissioner of Income Tax, Cochin
- Court
- Supreme Court of India
- Citation
- 2008 INSC 344 · [2008] 5 S.C.R. 42
- Case number
- CIVIL APPEAL No. 5308/2002
- Decided
- 12 March 2008
- Bench
- ASHOK BHAN, J.M. PANCHAL (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 37, 256(1)
Headnote
42 A KERALA ROAD LINES ~ v. COMMISSIOl\JER OF INCOME TAX, COCHIN (Civil Appeal No. 5308-5309 of 2002) B MARCH 12, 2008 (ASHOK BHAN AND J.M. PANCHAL, JJ.) Income Tax Act, 1961: c s. 37 - Business expenditure - Deduction of - Amount of interest paid by assessee on delayed payment of purchase to an agreement for purchase of land, paid an interest of Rs. 4 lacs for delayed payment of purchase consideration. The assessee .... claimed the said amount as revenue expenditure. The assessing authority disallowed the claim holding the E payment of interest as capital expenditure. The order
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