https://www.taxtmi.com/article/detailed?id=5318 Section 36(1)(iii) disallows interest on borrowings used for acquiring or creating assets until those assets are first put to use; deductibility depends on a factual nexus-interest is allowable where borrowed capital is applied to and remains in the business, particularly for expansions that share common management and pooled funds, but is disallowed where borrowings finance distinct new businesses or are diverted from the business. en-us Tue, 15 Oct 2013 06:03:51 +0530 Tue, 15 Oct 2013 06:03:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5318 Section 36(1)(iii) disallows interest on borrowings used for acquiring or creating assets until those assets are first put to use; deductibility depends on a factual nexus-interest is allowable where borrowed capital is applied to and remains in the business, particularly for expansions that share common management and pooled funds, but is disallowed where borrowings finance distinct new businesses or are diverted from the business. Articles Income Tax Tue, 15 Oct 2013 06:03:51 +0530 https://www.taxtmi.com/article/detailed?id=5318