https://www.taxtmi.com/caselaws?id=66519 The Tribunal ruled in favor of the assessee on all issues, determining that ownership of new constructions belonged to the waqf, the expenditure on constructions was revenue expenditure, interest under sections 139(8) and 217 needed reconsideration, disallowance of interest on borrowed funds was unwarranted, salami payments were revenue expenditure, and the telephone deposit was deductible as revenue expenditure. The Tribunal reversed the Lower Authorities' decisions and instructed the CIT(A) to review the interest issue in accordance with applicable case law. en-us Sun, 30 Apr 1989 00:00:00 +0530 Sat, 26 Feb 2011 13:00:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66519 The Tribunal ruled in favor of the assessee on all issues, determining that ownership of new constructions belonged to the waqf, the expenditure on constructions was revenue expenditure, interest under sections 139(8) and 217 needed reconsideration, disallowance of interest on borrowed funds was unwarranted, salami payments were revenue expenditure, and the telephone deposit was deductible as revenue expenditure. The Tribunal reversed the Lower Authorities' decisions and instructed the CIT(A) to review the interest issue in accordance with applicable case law. Case-Laws Income Tax Sun, 30 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66519