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Capitalisation of interest

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(Querist)
05 April 2008 Can interest paid on loan borrowed for purchasing of shares be added in cost of investment ?
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Jitender

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Jitender (Expert)
05 April 2008 no-
refer AS-13,16
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R.V.RAO

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R.V.RAO (Expert)
05 April 2008 MR JITENDER IS RIGHT AND SUCH INT. ON LOAN BORROWED FOR PURCHASE OF SHARES CANNOT BE ADDED IN COST OF INV.(REFER AS 13,16-ICAI)
R.V.RAO
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