Interest Expenses Disallowed u/s 36(1)(iii) for New Manufacturing Unit; Capitalized Until Production Starts.

Disallowing the interest u/s 36(1)(iii) - borrowings to set up a new unit for manufacturing door-frames at Haryana - capitalised in the Books of Accounts - no question of allowing the same as deductable expenditure for the Assessment year in question, as the said unit was yet to commence production .....

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