Expenses incurred for payment of foreclosure premium of loan is allowable as business expenditure U/S 37(1): Madras High Court M/s. EIH Associated Hotels Limited (T.C.A.No.1249 of 2010) Facts: 1. The assessee sought to restructure its finances by foreclosing an existing loan and replacing it with a fresh loan at a lower interest rate. 2. …
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