{"id":3238,"date":"2018-12-15T00:39:47","date_gmt":"2018-12-15T00:39:47","guid":{"rendered":"http:\/\/itatonline.org\/digest\/pcit-v-international-biotech-park-ltd-2018-259-taxman-14-bom-hc\/"},"modified":"2018-12-15T00:39:47","modified_gmt":"2018-12-15T00:39:47","slug":"pcit-v-international-biotech-park-ltd-2018-259-taxman-14-bom-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-international-biotech-park-ltd-2018-259-taxman-14-bom-hc\/","title":{"rendered":"PCIT  v. International Biotech Park Ltd.  (2018)  259 Taxman 14 (Bom) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that ,Interest paid on borrowed capital which \u00a0was used for acquiring or construction of assets that were used for earning taxable income. Interest expenditure\u00a0 is held to be allowable as deduction.\u00a0 ( AY.2010-11)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 36(1)(iii) :Interest on borrowed capital -loan amount was used for acquiring or construction of assets that were used for earning taxable income-  Interest expenditure is allowable as deduction.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3238","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Qe","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3238","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=3238"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3238\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}