Held that the fact that the loan was utilised for business purposes was not in dispute. Merely because it was a one-time payment made by the assessee for loan processing charges that would not make it capital expenditure.(AY.2004-05 to 2008-09)
Asst. CIT v. Cosmo Films Ltd. (2023)106 ITR 10 (SN)(Delhi) (Trib)
S. 37(1) : Business expenditure-Capital or revenue Loan processing charges paid to bank-Loan utilised for business purposes-One-time payment-Not capital expenditure.