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Interest on Borrowed Capital Forms Part of Cost of Acquisition: ITAT Chennai
Case Law Details
- Case Name
- S. Rajasekaran Vs DCIT (ITAT Chennai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
- Courts
- All ITAT, ITAT Chennai
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S. Rajasekaran Vs DCIT (ITAT Chennai)
Interest on Borrowed Capital Forms Part of Cost of Acquisition: ITAT Chennai Allows Capitalised Interest, Remands Farmers’ Payments for Verification
The Chennai Bench of the ITAT partly allowed the assessee’s appeal for AY 2023-24 in a capital gains dispute arising from sale of immovable properties. The assessee had claimed deduction of ₹7.67 crore (indexed) towards interest capitalised on loans borrowed for acquiring the properties and ₹1.16 crore (indexed ₹1.73 crore) towards payments made to farmers and agreement holders for securing clear tit...
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