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2017 (11) TMI 627 - AT - Income TaxInterest paid or payable on borrowings in respect of the unit no. 2 which could not be put to use till 31.03.2010 was to be capitalized without set off of interest earned - Held that:- Interest during construction has to be allowed as set off as decided in favour of assessee NTPC SAIL Power Co. Pvt. Ltd. vs. CIT [2012 (10) TMI 524 - DELHI HIGH COURT]. Allowability of provision of other retirement benefits - Held that:- Liability providing for service awards payable in future is an allowable liability. See CIT vs. Insilco Ltd. [2009 (2) TMI 31 - DELHI HIGH COURT].
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