Held that upfront fee on term loan for acquiring fixed asset and interest on loan taken on equipment allowable as revenue expenditure. (AY. 2015-16)
Brace Iron and Steel Pvt. Ltd. v. Add. CIT (2021) 90 ITR 582 (Delhi)(Trib.)
S. 37(1) : Business expenditure-Upfront fee-Term loan for acquiring fixed asset-Interest on loan taken on equipment-Allowable as revenue expenditure.