Interest on borrowed capital

In a newly established partnership firm, the Firm had purchased one N.A Land and make payment in full out of Loan taken from external sources as well as out of Capital Introduced by the partner in the F.Y 2015-16. Now Firm wants to capitalize Interest on Loan as well as Interest to pay to Partners Capital. is Capitalization Allowed and Can the interest be added to Cost of Land?? Further, Can a firm, in F.Y 16-17 By taking another Loan from external sources and repay Capital Introduced by the partners AND for this Loan taken the F.Y 16-17, can Interest expenses be Capitalized?? i.e., Shall be added to Cost of Land?? Please Guide me and give reference of Provisions I need to go through.