Finance cost on plot advances taken by a real estate company

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Sudhakar & Co (Querist)
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01 January 2019 Dear Frnds,

Please let me know the allowability of interest paid to customers on plot advances taken by a real estate company?

CA R SEETHARAMAN (Expert)
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01 January 2019 Yes it's an allowable expenditure if the interest is paid on delay in allotment of plots.

Sudhakar & Co (Querist)
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02 January 2019 Please share if any caselaws are available sir..

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