Thursday, January 14, 2021

Govt. assistance in nature of interest free loan could not be excluded from cost of asset

INCOME TAX : Where State Government sanctioned financial assistance for rehabilitation of tsunami damaged roads and bridges, ports and harbours and Government order clearly mentioned that assistance was by way of interest free loan, said interest free loan could not be excluded from cost of assets under section 43(1)

from www.taxmann.com Latest Case Laws https://ift.tt/2XFSkr8

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