https://www.taxtmi.com/caselaws?id=37431 Interest paid on borrowed funds used to acquire land was treated as part of the actual cost of the asset for capital gains computation. Applying commercial and accountancy principles, the article states that where such interest is capitalised and not claimed or allowed as revenue expenditure year after year, it forms part of the acquisition cost. The operative effect is that the full capital outlay incurred to bring the asset into the assessee's hands is included in actual cost when computing 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 paid on borrowed funds used to acquire land was treated as part of the actual cost of the asset for capital gains computation. Applying commercial and accountancy principles, the article states that where such interest is capitalised and not claimed or allowed as revenue expenditure year after year, it forms part of the acquisition cost. The operative effect is that the full capital outlay incurred to bring the asset into the assessee's hands is included in actual cost when computing capital gains. Case-Laws Income Tax Wed, 25 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37431