https://www.taxtmi.com/caselaws?id=20976 The court held that interest incurred for deferred payment terms should be included in the cost of dumpers for depreciation and development rebate. However, the court concluded that Explanation 8 to section 43(1) of the Income-tax Act applies, clarifying that interest payable for periods after an asset is first put to use cannot be included in the actual cost of the asset. Consequently, the interest amount in this case cannot be included in the actual cost of the dumpers, ruling in favor of the Revenue and against the assessee. en-us Wed, 27 Jan 1993 00:00:00 +0530 Wed, 18 Nov 2009 13:32:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20976 The court held that interest incurred for deferred payment terms should be included in the cost of dumpers for depreciation and development rebate. However, the court concluded that Explanation 8 to section 43(1) of the Income-tax Act applies, clarifying that interest payable for periods after an asset is first put to use cannot be included in the actual cost of the asset. Consequently, the interest amount in this case cannot be included in the actual cost of the dumpers, ruling in favor of the Revenue and against the assessee. Case-Laws Income Tax Wed, 27 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20976