Supreme Court · 2008 INSC 160 · Decided 8 February 2008
Assistant Commissioner of Income Tax, Ahmedabad v. Arvind Polycot LTD.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 160 · [2008] 2 S.C.R. 650
- Case number
- CIVIL APPEAL No. 1182/2008
- Decided
- 8 February 2008
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 36(i)(iii), 36(1)(iii)
Headnote
J.. Income Tax Act, 1961 - s.36(i)(iii) - Interest paid in c respect of borrowings on capital assets not put to use in the concerned financial year - Held : Is allowable deduction. The question which arose of consideration in the present appeal is : Whether of borrowings on capital assets not put to use in the D concerned financial year can be permitted as allowable deduction under Section 36(1) (iii) of the Income-Tax Act, A 1961? Dismissing the appeal, the Court ·~ E ·HELD: Interest paid in respect of borrowings on capital assets
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