29 October 2009
As per section 2(28A) interest means interest payable in any manner in respect of any moneys borrowed or debt incurred and includes any service fee or other charge in respect of the moneys borrowed or debt incurred or in respect of any credit facility which has not been utilised. Further, in case of "India Cement Ltd Vs CIT" in which SC held that expenditure incurred to obtain loan can not be capitalised. But did not disallow. hence it can be claimed.
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