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07 July 2015 HUDA Property alloted in Feb'11
Possession has been given by huda in Jun'12
25% payment had already been made of the property in Jan'11
Balance 75% is to be paid in 6 installments
Which has been paid on 31st Mar'15 along with delayed interest.
Ownership is still yet to tfr as enhanced compensation is still pending to be paid. thus Interest expense which is paid in 14-15 should be capitalised as CWIP along with its land value or claim as an expense?
As per AS-10, ownership is to be considered
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
07 July 2015 only till the time construction was ongoing anf interest was paid must be capitalised as per as 16 in case of borrowings made.

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