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2008 (1) TMI 26 - HIGH COURT, PUNJAB AND HARYANA
Deduction of interest and upfront fees paid loan taken for setting up a new unit u/s 36(1)(iii) read with Exp. 8 of Sec. 43(1) - there is distinction between modernization of existing plant and for setting up of a new plant. The expenditure should be treated as capital expenditure