1991 (2) TMI 99

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....EEVAN REDDY C. J.-Under section 256(1) of the Income-tax Act, 1961, the Tribunal has stated the following question at the instance of the Revenue : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in upholding the order of the Appellate Assistant Commissioner in that the interest amounting to Rs. 15,642 was allowable as business expenditure ?" The assesse....

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....tual cost" for the purpose of development expenditure, etc. It says the said interest cannot be given deduction out of the income derived from the metal unit. We are unable to agree. The assessee is one. He may have set up a new factory but the assessment is not made unit-wise but assessee-wise. There is no rule which compels him to include the said amount in the capital expenditure or to capit....