Marine Transport Limited ordered $3$ ships for its fleet on $1$st April, $2010.$ It pays a payment of $25\%$ of the contract value of each of the ship out of long term borrowings from a down a scheduled bank. The delivery has to commence from the financial year $2017.$ On $1"$ March, $2012,$ the ship builder informs that it has commenced production of one ship. There is no progress on other $2$ ships. Marine Transport Limited prepares its financial statements on financial year basis. Is it permissible for Marine Transport Limited to capitalise any borrowing costs for the financial year ended $31$st March, $2011$ or $31$st March, $2012?6\mathrm{.}4$ Ind AS $23$ Borrowing Costs