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Case Law Details

Case Name :   ITO Vs Logix Buildcon Pvt Ltd (ITAT Delhi)
Related Assessment Year : 2015-16
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ITO Vs Logix Buildcon Pvt Ltd (ITAT Delhi)

Introduction The Income Tax Appellate Tribunal (ITAT) Delhi, in a recent case involving ITO Vs Logix Buildcon Pvt Ltd, upheld the CIT’s order that interest incurred towards project expenses is not deductible from the project expenses. The case scrutinizes the capitalization of interest expenses and the nature of penal interests.

Analysis The case revolves around the issue of whether penal interest can be capitalized under project expens

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