Discuss giving reason regarding admissibility or otherwise of the following expenditures while computing income under the head Income from Business or Profession: Interest paid on an amount borrowed to acquire a plant fo

Not Admissible - Interest paid on an amount borrowed to acquire a plant for business use upto the date on which the plant is put to use is capital in nature and shall be capitalized by adding with the cost of the plant and therefore not admissible while computing income under the head Income from business or profession.