TMI BlogLong Term Capital gain computation - interest capitalized to cost of asset - It is not in dispute that...Long Term Capital gain computation - interest capitalized to cost of asset - It is not in dispute that the property was acquired by a borrowed capital initially borrowed from the relatives of the Directors. Thereafter, the loan taken from such persons was repaid out of the loan received from ICICI bank. - it cannot be construed that there is no nexus between the acquisition of the property and the utilization of the capital so borrowed. - AO hereby directed to allow capitalization of interest - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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