Exp. incurred on electricity, rent, security charges, etc. indicates commencement of business; interest exp. allowable

INCOME TAX : Assessee borrowed a loan for purpose of purchase of land for starting a new project and claimed interest paid on such loan as a deduction under section 36(1)(iii) - Assessing Officer disallowed claim on ground that since no activity had commenced in new project and, thus, assets were not put to use,

from www.taxmann.com Latest Case Laws https://ift.tt/3pgcx5D