https://www.taxtmi.com/caselaws?id=215504 The tribunal dismissed one appeal regarding the disallowance of interest for assessment year 2006-07 due to diverted funds, upheld the disallowance. The appellant did not pursue the appeal on sales promotion expenditure for the same year, resulting in its disallowance. The tribunal directed the deletion of the addition of an outstanding amount for assessment year 2007-08, stating that the limitation period does not extinguish debt. Regarding the deduction u/s 80IB for extracting granite, the tribunal allowed the deduction, considering it a manufacturing activity based on previous decisions and the inapplicability of a new definition. en-us Tue, 03 Apr 2012 00:00:00 +0530 Mon, 27 May 2013 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215504 The tribunal dismissed one appeal regarding the disallowance of interest for assessment year 2006-07 due to diverted funds, upheld the disallowance. The appellant did not pursue the appeal on sales promotion expenditure for the same year, resulting in its disallowance. The tribunal directed the deletion of the addition of an outstanding amount for assessment year 2007-08, stating that the limitation period does not extinguish debt. Regarding the deduction u/s 80IB for extracting granite, the tribunal allowed the deduction, considering it a manufacturing activity based on previous decisions and the inapplicability of a new definition. Case-Laws Income Tax Tue, 03 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215504