Claim of amortised upfront fees rejected since entire amount already claimed as deduction

Table of Contents▸ DCIT Vs GMR Airports Limited (ITAT Bangalore) DCIT Vs GMR Airports Limited (ITAT Bangalore) ITAT Bangalore held that claiming of amortised upfront fees i.e. 1/5th of the upfront fees paid is not allowable since the entire amount is already claimed as deduction. Accordingly, ground raised by revenue/department is allowed. Facts- The assessee is a company and is engaged in the business of promoting infrastructure development through investments in share and securities of accompanies engaged in such activities. The case was selected for scrutiny and the statutory noti...