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.
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