Hundi discounting charges to carry on business is revenue expenses

Brief of the case:

Delhi High Court held in CIT Vs DLF Universal Ltd held as follows :-

1. If assessee got hundi from its suppliers and get it discounted from the bank ,then the discounting charges paid by the assessee would be treated as a revenue expense;

2. If the assessee had transferred its net assets at the book value then no question of gain would arise because gain only arise if the selling price is in excess of cost price;<

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