Interest Waiver Not Added u/s 41(1) as Depreciation on Capitalized Assets Isn't Covered by Income Tax Act Provisions.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Cessation / waiver of interest liability - addition u/s 41(1) - earlier interest was capitalized as part of cost of assets and depreciation was claimed - Depreciation claimed on the capital assets are not at all covered under provision of section 41(1) - No addition - AT....