Tax on intrest that is deducted in cwip

A project company has been sanctioned with some amount by the financial institution for the project as loan.
In the process of construction the company has received some intrest on that unused amount which is kept as deposit,as per guidelines it is deducted from cwip(capital working in progress) cost.
Now the query is that the company is liable to pay income tax on that intrest income.whether this tax on intrest can be included in the cwip(as it will be
captalised in future)???