Disallowance on interest debited to profit and loss account as attributable to amounts invested in capital work-in-progress is justified. ( AY.2010-11)
Joy Alukkas (India) Ltd. v. ACIT (2018) 65 ITR 409 (Cochin ) (Trib)
S.36(1)(iii): Interest on borrowed capital — Disallowance on interest debited to profit and loss account as attributable to amounts invested in capital work-in-progress is justified.