Re. Interest on Borrowed Capital....Capitalised???
This query is : Resolved
15 December 2010
Hi,
Whether interest on borrowed capital which was fully utilised for investment in shares be capitalised in the cost of acquisition of shares??? case laws preferred
Whether interest on borrowed capital which was fully utilised for investment in shares be capitalised in the cost of acquisition of shares??? case laws preferred
15 December 2010
Vashisht Bhargava v ITO 1975/99ITR148
INTEREST ON MONEY BORROWED FOR PURCHASE OF ASSETS WILL BE ACTUAL PART OF CAPITAL COST.
INTEREST ON MONEY BORROWED FOR PURCHASE OF ASSETS WILL BE ACTUAL PART OF CAPITAL COST.
15 December 2010
No, the cost of acquisition of shares can not be increased by the amount of interest as this is not allowed as cost of improvement.
17 December 2010
???
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
