Tribunal held that interest and other charges paid to bank was capitalized in capital work-in-progress account. Accordingly addition cannot be made while computing book profit. (AY.2008 -09)
ITO v. Chiripal Poly Films Ltd. (2019) 177 ITD 441 / 202 TTJ 317/ 184 DTR 162(Mum.)(Trib.)
S. 14A : Disallowance of expenditure-Exempt income-interest and other charges paid to bank was capitalized in capital work-in-progress account–Addition cannot be made while computing book profit. [S. 115JB]