law: The Micro, Small and Medium Enterprises Development Act, 2006 
  23. Interest not to
  
  be allowed as deduction from income.-
  Notwithstanding
  
  anything contained in the Income-tax Act, 1961, the amount of interest payable
  
  or paid by any buyer, under or in accordance with the provisions of this Act,
  
  shall not, for the purposes of computation of income under the Income-tax Act,
  
  1961, be allowed as deduction.