Sunday, February 22, 2015

[aaykarbhavan] Interest paid on borrowed sum isn't deductible when income is determined by applying estimated rate of net profit



Interest paid on borrowed sum isn't deductible when income is determined by applying estimated rate of net profit

February 23, 2015[2015] 54 taxmann.com 68 (Punjab & Haryana)
IT : Depreciation is allowable even if total income is estimated by applying net profit rate
IT : Deduction of interest paid on borrowed capital is not allowable where income is estimated by applying net profit rate
 
Regards
Prarthana Jalan


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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>


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