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ITAT: Non-capitalisation Interest of Loans on P&M and CWP Cannot Be Capitalised and Disallowed - (23 May 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Amritsar Bench has held that non-capitalisation interest of loan on Plant & Machinery (P&M) and Capital Work in Progress (CWP) cannot be capitalised and disallowed under Section 36(1)(iii) of Income Tax Act.

Tags : ITAT   INTEREST OF LOANS   CAPITAL WORK IN PROGRESS  

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