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Disallowance u/s 43B
If the assessee has taken a loan from bank and has capitalized the loan interest in fixed asset but the interest has not been paid during the year. Whether the interest will be disallowed u/s 43B??
Replies (1)
43B applies to expenses forming part of P&L Account.
Interest which is capitalized to an asset is a Balance Sheet item and hence the question of dis-allowance doesn't arise.
Interest which is capitalized to an asset is a Balance Sheet item and hence the question of dis-allowance doesn't arise.
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