https://www.taxtmi.com/caselaws?id=214002 Interest on borrowings used for producing a feature film is to be capitalised as part of production cost under Rule 9A, while interest on borrowings used for other business purposes remains deductible under section 36(1)(iii); the actual utilisation of funds must be determined on facts. A development agreement accompanied by delivery of vacant possession and assignment of rights constitutes transfer for capital gains purposes under section 2(47) read with section 53A of the Transfer of Property Act, 1882, and the capital gain is taxable in the year possession is handed over. en-us Fri, 13 Apr 2012 00:00:00 +0530 Fri, 15 Jun 2012 08:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214002 Interest on borrowings used for producing a feature film is to be capitalised as part of production cost under Rule 9A, while interest on borrowings used for other business purposes remains deductible under section 36(1)(iii); the actual utilisation of funds must be determined on facts. A development agreement accompanied by delivery of vacant possession and assignment of rights constitutes transfer for capital gains purposes under section 2(47) read with section 53A of the Transfer of Property Act, 1882, and the capital gain is taxable in the year possession is handed over. Case-Laws Income Tax Fri, 13 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214002