There is not concept of deferred revenue expenditure in Income Tax Act, 1961

Section Involved

37(1), 35D (35D is not applicable in this case, howver the same has been referred)

Facts (Brief):

The assessee had claimed the expenditure by partly debiting in Profit and Loss Account and Partly in Computation of Income. The expenditure related to borrowing of funds repayable over a period of time.

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