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1986 (7) TMI 78 - KARNATAKA HIGH COURT
Extract:
.......therefore, recast as follows Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the net interest should be capitalised in each year ? Our answer to this question is in the negative and, to be more specific, we make it clear that what should be capitalised is gross interest and not net interest.