https://www.taxtmi.com/circulars?id=6391 Interest is a charge for borrowed funds and is to be treated like any other item of expense; expenses such as interest on loans and depreciation do not form part of the profit before tax. It follows that interest should not be added for arriving at the profit percentage when determining the assessable value of goods captively consumed. en-us Thu, 26 Nov 1992 00:00:00 +0530 Fri, 03 Jul 2009 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6391 Interest is a charge for borrowed funds and is to be treated like any other item of expense; expenses such as interest on loans and depreciation do not form part of the profit before tax. It follows that interest should not be added for arriving at the profit percentage when determining the assessable value of goods captively consumed. Circulars Central Excise Thu, 26 Nov 1992 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6391