This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Loan Processing Fees on LAP/LRD Loans Not Deductible Under Section 24(b): ITAT Upholds Disallowance
Case Law Details
- Case Name
- Salarpuria Developers Pvt Ltd Vs ACIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Kolkata
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Salarpuria Developers Pvt Ltd Vs ACIT (ITAT Kolkata)
Loan Processing Fees on LAP/LRD Loans Not Deductible Under Section 24(b): ITAT Upholds Disallowance
The Kolkata ITAT upheld disallowance of ₹11.71 lakh claimed by Salarpuria Developers Pvt. Ltd. towards loan processing charges under Section 24(b), holding that such expenditure was not incurred for acquisition or construction of the property and therefore could not be treated as deductible interest on borrowed capital.
The assessee had claimed deduction of loan processing fees paid to Kotak Mahindra Bank in connection with ...
Author Info
