Interest paid on acquisition of machinery allowable if purchase didn’t amount to extension of existing business

INCOME TAX : Payment of interest on loan availed for purchase of machinery which did not amount to extension of existing business was allowed as deduction under section 36(1)(iii), even if said machinery was not put to use in year under consideration

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000193032/interest-paid-on-acquisition-of-machinery-allowable-if-purchase-didn’t-amount-to-extension-of-existing-business.aspx