https://www.taxtmi.com/caselaws?id=26879 The High Court held that interest paid before the commencement of business cannot be treated as a revenue expenditure and should be added to the cost of machinery. The court rejected the assessee's claim that the interest payment on borrowed capital should be considered a revenue expenditure, emphasizing that interest can only be charged once the business commences, not during the setup phase. The court dismissed the petition, stating there is no legal basis to support the claim for interest deduction as revenue expenditure. en-us Thu, 14 Mar 1985 00:00:00 +0530 Tue, 09 Feb 2010 10:59:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26879 The High Court held that interest paid before the commencement of business cannot be treated as a revenue expenditure and should be added to the cost of machinery. The court rejected the assessee's claim that the interest payment on borrowed capital should be considered a revenue expenditure, emphasizing that interest can only be charged once the business commences, not during the setup phase. The court dismissed the petition, stating there is no legal basis to support the claim for interest deduction as revenue expenditure. Case-Laws Income Tax Thu, 14 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26879