Interest Deduction u/s 36(1)(iii) Applies to Business Borrowing, Regardless of Asset Type Acquired.

Disallowance of Interest u/s 36(1)(iii) - Section 36(1)(ii) of the Act makes no distinction between money borrowed to acquire a capital asset or a revenue asset and that all that the section requires is that that the assessee must borrow capital and the purpose of borrowing must be for business - HC .....

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