Disallowance of interest expenses - Admittedly, the proviso to section 36(1)(iii) of the Act is...

Disallowance of interest expenses - Admittedly, the proviso to section 36(1)(iii) of the Act is applicable during the relevant assessment year, namely 2008-09 and since the asset (land) has not been put to use by the assessee, the interest expenditure for acquiring the same cannot be allowed as a deduction .....

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