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Disallowance u/s 36(1)

This query is : Resolved 

24 August 2014 If assessee having C C a/c and same is used for thr payment ti creditors on purchaes of material. monthly interest is also debited to the P & L. During the year assessee had constructed in house capital assets out of purchased material of Rs 1Cr (Total Purchases of Rs. 25 Cr). So my query is whether proportionate Interest is to be disallowed u/s 36 (1) iii. which is debited to P & L.

24 August 2014 yes the interest should be disallowed and later claim deduction under section 24 after completion of the house.



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