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2001 (4) TMI 46 - HC - Income Tax
Extract:
.......ount of actual cost . We, therefore, dismiss these appeals and hold that there was no error in law committed by the Tribunal in allowing as deduction, interest on borrowing for acquisition of capital asset, though pertaining to a period prior to the commencement of production under section 36(1)(iii) of the Act. There shall be no order as to costs.