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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Multiple trade mark
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
