Amendment of section 36

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..... in respect of capital borrowed for acquisition of an asset for extension of existing business or profession (whether capitalised in the books of account or not) ; for any period beginning from the date on which the capital was borrowed for acquisition of the asset till the date on which such asset was first put to use, shall not be allowed as deduction."; (b) in clause (viia) , in sub-clause (a) .....

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..... ) of section 10", the words "any Exchange Risk Administration Fund set up by public financial institutions, either jointly or separately" shall be substituted; (d) after the Explanation below clause (xi) , the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2002, namely:- "(xii) any expenditure (not being in the nature of capita .....

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