Search: disallowance

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Section 36(1)(iii)4 Section 10A3

M/S. ROBOSOFT TECHNOLOGIES PVT. LTD.,,UDUPI vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1, UDUPI

In the result, the four appeals filed by the assessee are allowed in the terms indicated above

ITA 497/BANG/2017[2010 - 2011]Status: DisposedITAT Bangalore29 Nov 2019

Bench: Shri Arun Kumar Garodia & Shri Pavan Kumar Gadale

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Shri Shahnawaz-ul-Rahman, JCIT (DR)

Section 10ASection 36(1)(iii)

Sections 80IC(8)(ix) and 801E(7)(iii). It is therefore submitted that the word expansion is not different from extension of business and therefore the interest expenditure, on the utilization of borrowed funds for the acquisition of new assets, from the date of its acquisition till the date when the asset is put to use, is to be disallowed