Dismissing the appeal of the revenue the Tribunal held that ; interest incurred on power plant was incidental to pharma unit, irrespective of fact whether such power plant had commenced production or not in year under consideration assessee’s claim was to be allowed. ( AY. 1998-99 to 2002-03)
DCIT v. Core Health Care Ltd. (2018) 171 ITD 455 (Ahd) (Trib.)
S. 36(1)(iii) :Interest on borrowed capital –Captive power plant for expansion of existing business- Allowable as deduction irrespective of fact whether such power plant had commenced production or not in year under consideration