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of <h1>Clarification on Section 80-VVA: Interest Post-Production Not Capitalizable, Adjusted Effective Date to April 1, 1984.</h1> The circular addresses the implementation of Section 80-VVA of the Income-tax Act, noting that provisions are effective from April 1, 1984, correcting an earlier oversight that mentioned April 1, 1985. It clarifies that interest related to periods after machinery production cannot be capitalized, disallowing investment allowance or depreciation on such capitalized amounts. The instruction is directed to relevant officers for compliance, with a Hindi version to be issued subsequently.
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