Held that the assessee has invested own funds on capital work in progress hence No disallowance of interest can be made on borrowed amount. (AY. 2012-13)
ACIT v. Vizag Seaport (P) Ltd. (2024) 229 TTJ 73) (UO) (Visakha (Trib)
S. 36(1)(iii) : Interest on borrowed capital-Capital work in progress-Out of own funds-No disallowance of interest can be made on borrowed amount.[S. 37(1)]
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