https://www.taxtmi.com/caselaws?id=37431 Interest capitalised on borrowings used to acquire land forms part of the asset's actual cost for capital gains computation where it has not been claimed or allowed as revenue expenditure. Applying commercial and accountancy principles, the cost of acquisition must include the full capital outlay incurred to acquire the plots or bring them into the taxpayer's ownership. Accordingly, capitalised borrowing interest is included in the acquisition cost when calculating capital gains. en-us Wed, 25 Aug 1976 00:00:00 +0530 Mon, 29 Mar 2010 16:06:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37431 Interest capitalised on borrowings used to acquire land forms part of the asset's actual cost for capital gains computation where it has not been claimed or allowed as revenue expenditure. Applying commercial and accountancy principles, the cost of acquisition must include the full capital outlay incurred to acquire the plots or bring them into the taxpayer's ownership. Accordingly, capitalised borrowing interest is included in the acquisition cost when calculating capital gains. Case-Laws Income Tax Wed, 25 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37431