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1975 (11) TMI 42 - HC - Income Tax
Extract:
.......hased goes into production, increases the cost of the installation of the said asset, and hence should be treated as capital expenditure not covered by section 10(2)(iii) of the Act of 1922 or section 36(1)(iii) of the Act of 1961. In view of this we find on question No. 2 that in this case the amounts of interest are allowable as revenue expenses.