https://www.taxtmi.com/caselaws?id=117549 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision to allow the assessee to treat finance costs as period costs. It emphasized consistency with prior decisions and conformity with AS-7 and section 36(1)(iii) of the Income-tax Act, 1961. The assessee was permitted to deduct interest expenditure annually, despite deferred income recognition from incomplete projects. en-us Wed, 11 May 2005 00:00:00 +0530 Fri, 03 May 2024 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117549 The Tribunal dismissed the revenue's appeal, affirming the CIT(A)'s decision to allow the assessee to treat finance costs as period costs. It emphasized consistency with prior decisions and conformity with AS-7 and section 36(1)(iii) of the Income-tax Act, 1961. The assessee was permitted to deduct interest expenditure annually, despite deferred income recognition from incomplete projects. Case-Laws Income Tax Wed, 11 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117549