Tribunal held that once the assessee had been held as investment company, the interest expenses directly attributable to such investments required to be capitalised. Relied on CIT v. Trishul Investments Ltd. (2008) 305 ITR 434 (Mad)(HC). (AY.2014-15)
Addlife Investments Pvt. Ltd. v. Dy. CIT (2020) 84 ITR 343 ( 2021) 187 ITD 591/ 201 DTR 145 (Ahd.) (Trib.)
S. 36(1)(iii) : Interest on borrowed capital-Investment Company-Acquisition of shares-Interest directly attributable-Capitalised.