Interest on borrowings for capital asset
This query is : Resolved
15 January 2014
My second query is that I require a suitable case law so as to justify that interest paid on borrowings for purchase of trucks for the period taken in registration and body/cabin fitting during which the trucks could not be used for two months in the year relevant to AY 2011-12.
16 January 2014
even this interest needs to be capitalized as the asset has not yet been put to use.
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