During this year, the assessee could utilise only part of loan which was borrowed during period of construction. The assessee had temporarily made fixed deposits of the external commercial borrowing funds till utilisation for fixed asset or capital expenditure. The assessee had paid interest of Rs. 13.38 crores on the borrowings and had earned interest of Rs. 4.03 crores on the fixed deposits. The net interest of Rs. 9.35 crores was added to the preoperative expenditure pending capitalization. The Tribunal allowed the capitalisation of interest on fixed deposit receipts earned during the period of construction. On appeal the Court affirmed the order of Tribunal.  SLP of revenue is dismissed due to failure to explain  satisfactorily condonation of  delay of 699 days in filing SLP  (AY.2012-13), (2013-14)