ITO v. M.D. House Build. (2023) 199 ITD 153 (Surat) (Trib.)

S. 37(1) : Business expenditure-Builder-Loan processing charges on behalf of buyers-Allowable as deduction.

Held that loan processing charges borne by assessee-firm, engaged in business of construction of residential units/flats, on behalf of buyers so as to attract buyers for booking flats of assessee being in course of its business is allowable as revenue expenditure.  (AY. 2014-15)