Interest Expenditure on Construction Loan Allowed; No Extension of Existing Business u/s 36(1)(iii) Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Disallowance of interest expenditure - loans used for construction of additional building in an already existing facility and that there is no extension of an existing business - proviso to section 36(1)(iii) not applicable - disallownace deleted....