Held that to disallow the interest paid under proviso to section 36(1)(iii) of the Act, 1961 it was necessary to show that the borrowed capital was utilised for the purposes of acquiring new assets or for the extension of existing business or profession. The Assessing Officer had not made any case here that the borrowed capital was utilised for the purposes of a new unit, land or capital asset and proviso to section 36(1)(iii) was applicable.(AY.2016-17)