Supreme Court approves deduction of interest paid via debentures for tax calculation under Sec 43B of Income Tax Act
Last updated: 20 August 2021
Court :
Supreme Court of India
Brief :
The judgment could pave the way for corporates under stress in the current environment to restructure their interest payment as debentures or other instruments, and deduct the same for income tax purposes. This is provided the lender recognises such interest payment in its books and pays tax on it.
Citation :
M.M. Aqua Technologies Ltd. vs Commissioner Of Income Tax, Delhi dt 11 August, 2021
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TARANDEEP SINGH BHATIA
Published in Income Tax
Views : 237
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