https://www.taxtmi.com/article/detailed?id=6382 The proviso to section 36(1)(iii) disallows deduction for any interest paid in respect of capital borrowed specifically for acquisition of a capital asset for the period from the date of borrowing until the asset is first put to use, whether or not the interest is capitalised. This restriction applies only to borrowings earmarked for acquisition of assets (not general business borrowings); put-to-use includes installation and commissioning in an existing business. The author emphasises interest as a revenue cost and highlights practical and policy concerns with the amendment. en-us Wed, 12 Aug 2015 06:48:19 +0530 Wed, 30 Jul 2025 21:38:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6382 The proviso to section 36(1)(iii) disallows deduction for any interest paid in respect of capital borrowed specifically for acquisition of a capital asset for the period from the date of borrowing until the asset is first put to use, whether or not the interest is capitalised. This restriction applies only to borrowings earmarked for acquisition of assets (not general business borrowings); put-to-use includes installation and commissioning in an existing business. The author emphasises interest as a revenue cost and highlights practical and policy concerns with the amendment. Articles Income Tax Wed, 12 Aug 2015 06:48:19 +0530 https://www.taxtmi.com/article/detailed?id=6382